DNA X, Inc. SEC Filings

DNA X, Inc. Acting CEO and director Michael C. Mulica reported an equity compensation grant. On February 9, 2026, he was awarded 50,000 restricted stock units of common stock at a price of $0.00 per unit as a service-based grant.

The units vest in equal monthly installments over one year, contingent on his continued service. Following this grant, he beneficially owns 54,071 securities, consisting of 4,071 shares of common stock and 50,000 unvested restricted stock units. These figures reflect a 1-for-18 reverse stock split that took effect on October 27, 2025.

DNA X, Inc. appointed executive chairman Mike Mulica as acting chief executive officer and principal executive officer effective February 9, 2026. Mulica’s annual base salary was increased to $450,000, and he received 50,000 restricted stock units vesting monthly over one year, along with up to 12 months of COBRA premium reimbursement if his employment terminates and he elects continuation coverage.

The company also amended Chief Financial Officer Clay Crolius’s employment agreement, confirming that the previously announced asset sale completed on January 23, 2026 is a triggering event under his contract. Crolius was granted 35,000 RSUs vesting monthly over one year and may receive up to six months of COBRA premium reimbursement following a qualifying termination.

DNA X, Inc. reported major leadership changes, with chief executive officer Peter Liu resigning as CEO and director on January 30, 2026, and chief commercial officer Charles Becher resigning effective January 29, 2026. Both entered separation and release agreements that include general releases of claims against the company.

Liu will receive a total cash severance of $855,000, now split into two payments, while Becher will receive a $250,000 lump-sum severance. The board appointed Scott Walker, a beneficial owner of DNA Holdings Venture, Inc., as a director under DNA Holdings’ right to designate a board member tied to prior investment agreements.

DNA X, Inc. (formerly Sonim Technologies) has completed the previously announced sale of substantially all assets of its enterprise 5G solutions business to Pace Car Acquisition LLC. After purchase price adjustments, the company reports approximately $6.2 million of Post-Closing Cash, including repayment of about $5.4 million of indebtedness.

The company amended the asset purchase agreement to replace an escrow with a $1.5 million holdback, which the buyer can use for purchase price adjustments and certain indemnities, with any remaining amount expected to be released nine months after closing. DNA X prepaid two promissory notes to Streeterville Capital at 110% of their outstanding balances, terminating those obligations.

Following the transaction, DNA X changed its corporate name and plans to focus on developing and commercializing an on-chain trading protocol for automated decentralized exchange strategies, and expects to change its trading symbol to DNAX. Based on the asset sale, the company believes it has regained compliance with Nasdaq’s $2.5 million stockholders’ equity requirement but notes there is no assurance Nasdaq will concur and that continued listing will be monitored.

Technologies Inc received an amended ownership report showing a full exit by a prior large holder. Streeterville Capital LLC, Streeterville Management LLC, and John M. Fife report beneficial ownership of 0 shares of Technologies Inc common stock, representing 0.0% of the class as of 1/23/2026.

The filing confirms they have no sole or shared power to vote or dispose of any shares and that they now own 5% or less of the company’s common stock. The reporting persons also certify that the securities referenced were not acquired or held for the purpose of changing or influencing control of the issuer.

Sonim Technologies entered a financing and acquisition transaction with DNA Holdings. The company issued a $1,200,000 unsecured convertible promissory note bearing 10% annual interest and maturing on December 15, 2026, receiving cash proceeds of $1,200,000. Beginning six months after issuance, the note is convertible at an initial price of $5.50 per share, with anti-dilution and “full ratchet” protections, subject to a floor of $1.10 and required stockholder approvals for certain adjustments.

Concurrently, Sonim acquired 100% of the membership interests in DNA X LLC, a DeFi trading protocol business, by issuing 223,201 shares of common stock, described as 19.99% of the company’s outstanding common stock at issuance. DNA Holdings agreed to a voting arrangement supporting a previously signed asset purchase agreement and gained rights to designate one officer and one board nominee while holding at least 5% of Sonim’s stock. DNA Holdings also received a put option allowing it, under specified trading volume or revenue thresholds for DNA X before June 30, 2026, to exchange its Sonim shares back for the DNA X interests.

The note and related agreements include covenants limiting additional debt, liens, equity repurchases, other debt repayments, and dividends while the note is outstanding. Separately, Sonim entered an exchange agreement with Streeterville Capital that reduced the outstanding balance of a prior note to approximately $2.3 million and issued additional shares, contributing to a total of 1,488,465 common shares outstanding after the reported transactions.

Sonim Technologies, Inc. reports an amendment to its previously announced asset purchase agreement under which Pace Car Acquisition LLC agreed to buy substantially all assets related to Sonim’s enterprise 5G solutions business for $15,000,000 in cash, subject to working capital, indebtedness, and transaction expense adjustments. The amendment removes all provisions related to a proposed reverse merger transaction, which is no longer relevant to closing this asset sale. It also adds a requirement that if the adjusted Closing Purchase Price would be less than zero, Sonim must pay enough of its accounts payable so that the Closing Purchase Price remains positive, and it adds Sonim Technologies Germany GmbH to the list of acquired subsidiaries.

Sonim Technologies (SONM) is asking stockholders to approve a major asset sale and related items at a virtual-only special meeting in 2025. The company agreed to sell substantially all assets of its enterprise 5G “Legacy Business” to Pace Car Acquisition LLC for $15 million in cash, subject to adjustments, plus up to $5 million in potential earn-out payments. Sonim estimates it will retain approximately $3–$5 million of Post-Closing Cash after closing adjustments and repayment of up to $3.2 million of indebtedness.

After the sale, Sonim will exit its historical operations but does not plan to liquidate and instead intends to pursue an alternative transaction, with future use of remaining cash to be determined by the post-closing board. Stockholders will not receive sale proceeds directly and have no appraisal rights. The board, following a Special Committee and a fairness opinion from Roth Capital Partners, unanimously recommends voting FOR the asset sale, an advisory compensation vote for executive payouts tied to the deal, and a possible adjournment to solicit more proxies.

Sonim Technologies announced it has regained compliance with Nasdaq’s minimum bid price requirement. Nasdaq determined that from October 27, 2025 to November 11, 2025, the closing bid price of SONM common stock was at $1.00 per share or greater, satisfying Listing Rule 5550(a)(2). Nasdaq marked the matter as closed.