Sonim Technologies Confirms Receipt of Unsolicited, Non-Binding Proposal from Orbic North America, LLC
Sonim Technologies (NASDAQ:SONM) has received an unsolicited, non-binding proposal from Orbic North America, LLC to acquire substantially all of its operating assets for $25 million. The proposal, dated June 26, 2025, indicates that this acquisition would not interfere with Sonim's recently disclosed Reverse Take Over (RTO) transaction with a private US-based company focused on Nvidia-based High-Performance Computing (HPC).
The Special Committee of Sonim's Board of Directors will evaluate the proposal with its legal and financial advisors. The company emphasized that no stockholder action is required at this time.
Sonim Technologies (NASDAQ:SONM) ha ricevuto una proposta non sollecitata e non vincolante da parte di Orbic North America, LLC per acquisire sostanzialmente tutti i suoi beni operativi per 25 milioni di dollari. La proposta, datata 26 giugno 2025, specifica che questa acquisizione non interferirebbe con la recente operazione di Reverse Take Over (RTO) di Sonim con una società privata statunitense focalizzata sull'High-Performance Computing (HPC) basato su Nvidia.
Il Comitato Speciale del Consiglio di Amministrazione di Sonim valuterà la proposta insieme ai suoi consulenti legali e finanziari. L'azienda ha sottolineato che al momento non è richiesta alcuna azione da parte degli azionisti.
Sonim Technologies (NASDAQ:SONM) ha recibido una propuesta no solicitada y no vinculante de Orbic North America, LLC para adquirir sustancialmente todos sus activos operativos por 25 millones de dólares. La propuesta, fechada el 26 de junio de 2025, indica que esta adquisición no interferiría con la reciente transacción de Reverse Take Over (RTO) de Sonim con una empresa privada estadounidense enfocada en la computación de alto rendimiento (HPC) basada en Nvidia.
El Comité Especial del Consejo de Administración de Sonim evaluará la propuesta junto con sus asesores legales y financieros. La compañía enfatizó que no se requiere ninguna acción por parte de los accionistas en este momento.
Sonim Technologies (NASDAQ:SONM)는 Orbic North America, LLC로부터 약 2,500만 달러에 달하는 자사의 주요 운영 자산을 인수하겠다는 비공식적이고 구속력 없는 제안을 받았습니다. 2025년 6월 26일자 제안서에는 이번 인수가 Nvidia 기반의 고성능 컴퓨팅(HPC)에 집중하는 미국 비상장 회사와 Sonim이 최근 공개한 역인수(RTO) 거래에 영향을 미치지 않을 것임을 명시하고 있습니다.
Sonim 이사회 특별위원회는 법률 및 재무 자문단과 함께 이 제안을 검토할 예정입니다. 회사는 현재 주주들의 별도 조치가 필요하지 않다고 강조했습니다.
Sonim Technologies (NASDAQ:SONM) a reçu une proposition non sollicitée et non contraignante de la part de Orbic North America, LLC visant à acquérir l'essentiel de ses actifs opérationnels pour 25 millions de dollars. La proposition, datée du 26 juin 2025, précise que cette acquisition ne perturberait pas la récente opération de Reverse Take Over (RTO) de Sonim avec une société privée américaine spécialisée dans le calcul haute performance (HPC) basé sur Nvidia.
Le Comité spécial du conseil d'administration de Sonim examinera la proposition avec ses conseillers juridiques et financiers. La société a souligné qu'aucune action des actionnaires n'est requise pour le moment.
Sonim Technologies (NASDAQ:SONM) hat ein unverlangtes, unverbindliches Angebot von Orbic North America, LLC erhalten, um im Wesentlichen alle seine operativen Vermögenswerte für 25 Millionen US-Dollar zu erwerben. Das Angebot vom 26. Juni 2025 besagt, dass dieser Erwerb die kürzlich bekannt gegebene Reverse Takeover (RTO)-Transaktion von Sonim mit einem privaten US-Unternehmen, das sich auf Nvidia-basierte Hochleistungsrechner (HPC) spezialisiert hat, nicht beeinträchtigen würde.
Der Sonderausschuss des Vorstands von Sonim wird das Angebot zusammen mit seinen rechtlichen und finanziellen Beratern prüfen. Das Unternehmen betonte, dass derzeit keine Aktion der Aktionäre erforderlich ist.
- Potential $25 million cash injection from asset sale
- Opportunity to pursue both the asset sale and RTO transaction simultaneously
- Multiple strategic alternatives being evaluated to maximize shareholder value
- Proposal is non-binding and unsolicited, indicating uncertainty
- Potential sale of substantially all operating assets could impact current business operations
- Complex transaction structure involving both asset sale and RTO creates execution risk
No stockholder action required at this time
San Diego, California--(Newsfile Corp. - June 27, 2025) - The Special Committee of the Board of Directors (the "Special Committee") of Sonim Technologies, Inc. (NASDAQ: SONM), formed to oversee the Company's ongoing strategic alternatives process, today confirmed receipt of an unsolicited, non-binding proposal from Orbic North America, LLC to acquire substantially all of Sonim's operating assets for
The Special Committee will evaluate the proposal in consultation with its legal and financial advisors. Further updates will be shared as more information becomes available.
About Sonim Technologies
Sonim Technologies is a leading U.S. provider of rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, we currently sell our ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience while providing an extra level of protection. For more information, visit www.sonimtech.com.
Media contact:
Anette Gaven
anette.gaven@sonimtech.com
P: 619-993-3058
Important Information and Where to Find It
This press release may be considered to be a soliciting material in connection with the 2025 Annual Meeting of Stockholders. Sonim has filed with the SEC a definitive proxy statement on Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for the 2025 Annual Meeting of Stockholders.
Sonim's stockholders are strongly encouraged to read Sonim's definitive proxy statement (including any amendments or supplements thereto) and any other documents to be filed with the SEC carefully and in their entirety when they become available because they will contain important information.
Stockholders may obtain a free copy of the definitive proxy statement, any amendments or supplements to the proxy statement, and other documents that Sonim files with the SEC at no charge from the SEC's website at www.sec.gov. Copies will also be available at no charge on Sonim's website at https://ir.sonimtech.com/sec-filings/all-sec-filings.
Additional Information and Where to Find It
This communication relates to the proposed transaction involving Sonim. This communication does not constitute a solicitation of any vote or approval. In connection with the proposed transaction, Sonim plans to file with the SEC a proxy statement (the "Proxy Statement") relating to a special meeting of its stockholders and may file other documents with the SEC relating to the proposed transaction, including a prospectus. This communication is not a substitute for the Proxy Statement or any other document that Sonim may file with the SEC or send to its stockholders in connection with the proposed transaction. Before making any voting decision, stockholders of Sonim are urged to read the Proxy Statement in its entirety when it becomes available and any other relevant documents filed or to be filed with the SEC and any amendments or supplements thereto and any documents incorporated by reference therein, because they will contain important information about the proposed transaction and the parties to the proposed Transaction. Any vote in respect of resolutions to be proposed at a stockholder meeting of Sonim to approve the proposed transaction or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in the Proxy Statement. Investors and security holders will be able to obtain the Proxy Statement and other documents Sonim files with the SEC (when available) free of charge at the SEC's website (http://www.sec.gov) or at Sonim's investor relations website (https://ir.sonimtech.com/) or by e-mailing Sonim to ir@sonimtech.com.
Participants in the Solicitation
Sonim and its respective directors, executive officers, and other members of their management and employees, including Peter Liu (Chief Executive Officer and a director), Clay Crolius (Chief Financial Officer), and Sonim's directors-James Cassano, Mike Mulica, Jack Steenstra, and Jeffrey Wang-under SEC rules, may be deemed to be participants in the solicitation of proxies of Sonim's stockholders in connection with the proposed Transaction.
Stockholders may obtain more detailed information regarding Sonim's directors and executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, under the captions "Directors, Executive Officers, and Corporate Governance," "Security Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" of Sonim's definitive proxy statement for the 2025 Annual Meeting filed with the SEC on June 18, 2025.
Any subsequent updates following the date hereof to the information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the proposed Transaction, if and when they become available. These documents will be available free of charge as described above.
Forward-Looking statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to, among other things, the anticipated effects of the proposed transaction and the strategy of Sonim in connection with strategic alternatives, the anticipated terms of the proposed transaction, and potential benefits of the proposed transaction to Sonim's stockholders. These forward-looking statements are based on Sonim's current expectations, estimates and projections, and certain assumptions made by Sonim, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "achieve," "aim," "ambitions," "anticipate," "believe," "committed," "continue," "could," "designed," "estimate," "expect," "forecast," "future," "goals," "grow," "guidance," "intend," "likely," "may," "milestone," "objective," "on track," "opportunity," "outlook," "pending," "plan," "poised," "position," "possible," "potential," "predict," "progress," "promises," "roadmap," "seek," "should," "strive," "targets," "to be," "upcoming," "will," "would," and variations of such words and similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include, but are not limited to, the following: the ability of Sonim to meet expectations regarding the timing and completion of the proposed transaction; the possibility that the LOI will not result in the definitive agreement; the possibility that the conditions to the closing of the proposed transaction are not satisfied, including the risk that the required approvals are not obtained, the Sonim Legacy Business Sale does not close, and that Sonim's stockholders do not approve the proposed transaction; the challenges of maintaining Nasdaq listing and the potential necessity to implement a reverse stock-split in order to remain listed on Nasdaq; the occurrence of any event, change or other circumstances that could result in the definitive agreement (if ever executed) being terminated or the proposed transaction not being completed on the terms reflected in the definitive agreement, or at all; potential litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have adverse effects on the market price of Sonim's common stock; the risk that the current board of directors of Sonim loses the proxy contest and the new directors' slate determines to terminate the proposed transaction (whether at the state of LOI or definitive agreement); the effect of the announcement of the proposed transaction on the ability of Sonim to retain key personnel and maintain relationships with customers and business partners; the risk of unexpected costs or expenses resulting from the proposed transaction and the LOI; and other risks and uncertainties, including those described under "Risk Factors" included in Sonim's most recent Annual Report on Form 10-K and any subsequent quarterly filings on Form 10-Q filed with the Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257071
FAQ
What is the value of Orbic North America's offer to acquire Sonim Technologies (SONM)?
How does the Orbic proposal affect Sonim's planned RTO transaction?
What action do Sonim Technologies (SONM) shareholders need to take regarding the Orbic proposal?
Who is evaluating the Orbic proposal for Sonim Technologies?
When did Sonim Technologies receive the Orbic acquisition proposal?
