Company: SONM
Filing Date: 2025-07-17
Form Type: 8-K
Source: 0001641172-25-020061
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Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-07-17
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On
July 11, 2025, Sonim Technologies, Inc. (the “ Company”) entered into a note purchase agreement (the “ Purchase Agreement”)
with Streeterville Capital, LLC (the “ Lender”) pursuant to which the Company issued and sold to the Lender a promissory note
in the original principal amount of $2,755,000 (the “ Note”).

The
Purchase Agreement

Pursuant
to the terms of the Purchase Agreement, until all of the Company’s obligations under the Note and all other transaction documents
are paid and performed in full, the Company agreed to comply with certain covenants, including but not limited to the following: (i)
compliance with its filing requirements under the Securities Exchange Act of 1934, as amended, (ii) maintaining the Company’s listing
on a national securities exchange, and (iii) refraining from making any Restricted Issuances (as defined in the Purchase Agreement and
described below) without the Lender’s prior written consent, which consent may be granted or withheld in the Lender’s sole
discretion.

Subject
to certain customary exceptions set forth in the Purchase Agreement, Restricted Issuances include the incurrence or guaranty of any debt
obligations other than trade payables in the ordinary course of business, the issuance of any convertible securities in which the number
of shares that may be issued pursuant to a conversion right, or the conversion price, varies with the market price of the Company’s
common stock, the issuance of any securities with reset provisions and the issuance of any securities in connection with Section 3(a)(9)
exchange, a Section 3(a)(10) settlement, or any other similar settlement or exchange. Restricted Issuances do not include ATM facilities,
commercial bank loans or lines of credit, leases, grants pursuant to the Company’s incentive plans, and change-in-control transactions
that result in full repayment of the Note upon consummation.

The
Purchase Agreement also contains a “most favored nation” clause. Under this provision, for as long as the Note remains outstanding,
if the Company issues any debt security with more favorable economic terms or conditions not similarly provided to the Lender, the Company
must notify the Lender. At the Lender’s option, such favorable terms will become part of the Note and related transaction documents.

The
Note

The
Note carries an original issue discount