Company: SONM
Filing Date: 2025-06-20
Form Type: PRRN14A
Source: 0001213900-25-056078
Chunk: 3

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: PRRN14A
Chunk 3
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/Orbic Parties have serious concerns about the Proposed Social Mobile ®Transaction. AJP/Orbic Parties believe strongly in Sonim’s opportunity to create significantly more value for its stockholders. The AJP/Orbic Parties believe that the Proposed Social Mobile ®Transaction drastically undervalues Sonim, due to (i) the fact that a substantial amount of the consideration for the Proposed Social Mobile ®Transaction is contingent in the form of an earnout; (ii) the Proposed Social Mobile ®Transaction is potentially inefficient from a tax perspective by effectively subjecting the transaction to potential double taxation after taking into account distributions to Sonim stockholders; (iii) the Proposed Social Mobile ®Transaction has not provided specific details on how the transaction will translate into stockholder value and lacks quantifiable metrics, verifiable data and financial analysis demonstrating how the transaction will deliver tangible benefits to stockholders; and (iv) the Proposed Social Mobile ®Transaction appears to be the result of a desire by the Special Committee to find an alternative transaction with any party other than Orbic and to influence the outcome of this proxy contest. The AJP/Orbic Parties believe that Sonim has superior prospects to those achieved to date by Sonim’s present management team through Company operations and that better strategic transaction options are available other than the Social Mobile ®Transaction. As a result, Orbic believes that the Proposed Social Mobile ®Transaction is not in the best interest of Sonim’s stockholders as they would not receive a full and fair value of their investments. Additionally, on June18, 2025, Sonim announced that it intends to enter a definitive agreement with an unnamed prospective reverse takeover candidate for its public shell (the “ Proposed Reverse Merger”). The announcement states the company is targeting a $15million estimated value for Sonim. The AJP/Orbic Parties have significant doubts that a valuation of this size could be obtained for a public shell. The AJP Orbic Parties believe that the Special Committee’s assessment of the potential transaction value is overly optimistic and lacks any details or transparency. Stockholders deserve a clear and detailed explanation of how this transaction will benefit them, not vague platitudes. For the reasons stated throughout this Proxy Statement, it has become clear to the AJP/Orbic Parties that comprehensive action — including stockholder -drivenchange to the composition of the Board, — is required to protect stockholders from further value destruction by the current Board and management team so that all stockholders can realize the true value of their investment in the Company. Accordingly, the