M&A - SONIM TECHNOLOGIES INC

Form Type: DEFA14A

Filing Date: 2025-06-02

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225013241

Filing Summary: On June 2, 2025, Sonim Technologies, Inc. announced the signing of a Letter of Intent (LOI) with Social Mobile for the potential acquisition of substantially all its assets. The proposed acquisition price is up to $20 million, which includes an earn-out of up to $5 million based on revenue targets. The LOI grants exclusivity to Social Mobile during negotiations and allows Sonim to explore reverse take-over (RTO) opportunities. The Special Committee of Sonim's Board emphasized that the acquisition represents a strategic opportunity to maximize shareholder value while advancing the company's technology offerings. The transaction is subject to customary closing conditions and approvals, and key highlights include defined structure, secured financing, and continued evaluation of RTO options. Both companies believe this acquisition will create synergies and enhance their ability to serve clients effectively.

Form Type: DEFA14A

Filing Date: 2025-04-03

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225002578

Filing Summary: On April 3, 2025, Sonim Technologies, Inc. confirmed receiving an unsolicited non-binding proposal from Orbic North America, LLC to acquire all outstanding shares of Sonim for $4.00 per share in cash. The proposal is currently under review by a Special Committee of the Board established to evaluate such offers. The committee, consisting of independent directors, is consulting with legal and financial advisors to assess the proposal while considering all available strategic alternatives. Sonim's management emphasizes its commitment to maximizing shareholder value and states there is no guarantee that this evaluation will lead to a transaction. The company has also stated it will refrain from additional comments unless deemed necessary for shareholder interests.