Sonim Technologies Provides Update on Strategic Review Process and Addresses Market Speculation

Rhea-AI Summary

Sonim Technologies (NASDAQ: SONM) has provided an update on its ongoing strategic review process. The company confirmed it continues to evaluate potential strategic alternatives to maximize stockholder value, following the formation of a special committee announced on January 22, 2025.

The company explicitly denied market rumors regarding management discussions with Orbic North America, , stating no such discussions have taken place. Additionally, Sonim reported securing additional financing on February 24, 2025, which will provide necessary working capital to continue scaling its business independently.

Positive

• Secured additional working capital financing
• Active evaluation of strategic alternatives to maximize shareholder value

Negative

• No concrete progress on strategic alternatives
• Denial of potential strategic partnership with Orbic

San Diego, California--(Newsfile Corp. - February 26, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of rugged mobile solutions, today announces that it continues to receive and evaluate inbound potential strategic alternatives in order to maximize stockholder value. As announced on January 22, 2025, Sonim has formed a special committee to evaluate opportunities, and this process is ongoing. Sonim has not decided yet on any specific path or transaction and therefore, of course, no transaction has closed. Sonim affirms that, contrary to certain inaccurate market rumors, there have been no management discussions between Sonim and Orbic North America, LLC. As announced on February 24, 2025, Sonim closed additional financing which provides Sonim the necessary working capital to continue to scale its business independently.

About Sonim Technologies

Sonim Technologies is a leading U.S. provider of ultra-rugged and 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
+16199933058

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242429

FAQ

What is the current status of Sonim Technologies' (SONM) strategic review process?

Sonim Technologies is actively evaluating inbound strategic alternatives through a special committee formed on January 22, 2025, but has not yet decided on any specific path or transaction.

Are the rumors about Sonim Technologies (SONM) discussions with Orbic North America true?

No, Sonim Technologies explicitly denied any management discussions with Orbic North America, , stating these market rumors are inaccurate.

When did Sonim Technologies (SONM) secure its latest financing?

Sonim Technologies closed additional financing on February 24, 2025.

What is the purpose of Sonim Technologies' (SONM) recent financing?

The financing provides Sonim with necessary working capital to continue scaling its business independently.