Sonim Launches XP3plus 5G Ultra-Rugged Flip Phone on AT&T; FirstNet CertifiedPurpose-Built for First Responders, Military, Government and Enterprise Users in Construction, Hospitality, Manufacturing, and many other use cases that require distraction-free phonesAugust 19, 2025 7:30 AM EDT | Source: Sonim Technologies, Inc.San Diego, California--(Newsfile Corp. - August 19, 2025) - Sonim Technologies (NASDAQ: SONM) today announced the availability of the XP3plus 5G, its newest ultra-rugged flip ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the quarter ended June 30, 2025 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $36.1 million while the stockholders' deficit improved to $(1.3) million as of June 30, 2025 Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $2,006 | $5,343 | | Total current assets | $27,123 | $32,165 | | **Total assets** | **$36,078** | **$39,739** | | Total current liabilities | $35,662 | $43,740 | | **Total liabilities** | **$37,412** | **$45,439** | | **Total stockholders' equity (deficit)** | **$(1,334)** | **$(5,700)** | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a Q2 net loss of $7.5 million, while the H1 net loss narrowed to $7.0 million from the prior year Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Total net revenues | $11,190 | $11,516 | $27,911 | $28,292 | | Gross profit | $845 | $2,969 | $9,201 | $5,871 | | Loss from operations | $(6,732) | $(6,470) | $(6,087) | $(9,159) | | **Net loss** | **$(7,475)** | **$(6,616)** | **$(7,017)** | **$(9,522)** | | **Net loss per share (basic & diluted)** | **$(0.79)** | **$(1.41)** | **$(0.91)** | **$(2.09)** | [Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) The stockholders' deficit improved significantly due to capital raising activities offsetting the period's net loss - For the six months ended June 30, 2025, the company's stockholders' deficit decreased from **$(5,700) thousand to $(1,334) thousand**[21](index=21&type=chunk) - Key drivers were **$8,952 thousand in net proceeds from common stock issuance** and **$2,431 thousand in stock-based compensation**, partially offset by a **$7,017 thousand net loss**[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations increased to $14.5 million, funded by $11.2 million from financing activities Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(14,488) | $(3,560) | | Net cash used in investing activities | $0 | $(69) | | Net cash provided by financing activities | $11,151 | $3,832 | | **Net decrease in cash** | **$(3,337)** | **$203** | | **Cash at end of period** | **$2,006** | **$9,600** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the pending asset sale to Social Mobile, a planned RTO, and significant revenue recognition items - On July 17, 2025, the Company entered into an Asset Purchase Agreement to sell substantially all assets to Social Mobile for **$15 million in cash** plus a potential **$5 million earn-out**[30](index=30&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) - The company is pursuing a potential **reverse takeover (RTO) transaction** in conjunction with the asset sale to maximize stockholder value[31](index=31&type=chunk)[116](index=116&type=chunk) - Management believes it has **sufficient liquidity to continue as a going concern** for the next twelve months based on current and subsequent funding[36](index=36&type=chunk) - For H1 2025, the Company recognized **$5.49 million in revenue** from the release of previously accrued customer allowances[51](index=51&type=chunk) - Subsequent to quarter end, the company raised **$4.8 million from a public offering** and **$2.5 million from a promissory note**[121](index=121&type=chunk)[125](index=125&type=chunk)[126](index=126&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, the pending asset sale, and liquidity for the reporting period [Company Overview and Strategic Initiatives](index=31&type=section&id=Company%20Overview%20and%20Strategic%20Initiatives) The company is focused on rugged 5G solutions and is pursuing a sale of its core business to Social Mobile - The company launched new products including the **Sonim H500 hotspot**, **XP Pro 5G smartphone**, and **XP3plus 5G flip phone**[141](index=141&type=chunk)[144](index=144&type=chunk) - Sonim entered an agreement to sell substantially all assets for **$15 million in cash** plus a potential **$5 million earn-out**[149](index=149&type=chunk)[150](index=150&type=chunk) - In parallel with the asset sale, the company is pursuing a **reverse merger (RTO)** to allow the public entity to continue with a new business[152](index=152&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) H1 2025 gross profit improved significantly due to a large customer allowance release, despite a slight revenue dip Comparison of Results of Operations (in thousands) | Metric | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total net revenues | $27,911 | $28,292 | (1)% | | Gross profit | $9,201 | $5,871 | 57% | | Loss from operations | $(6,087) | $(9,159) | (34)% | | Net loss | $(7,017) | $(9,522) | (26)% | - H1 2025 gross profit increased by $3.3 million, primarily due to a **$5.5 million revenue recognition** from expired customer allowance agreements[177](index=177&type=chunk) - Q2 2025 gross profit decreased by $2.1 million, impacted by a **$1.1 million impairment of contract fulfillment assets** and tariff costs[175](index=175&type=chunk) - R&D expenses for H1 2025 increased by **$1.5 million YoY** due to new product development[179](index=179&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) Recent financing activities provide sufficient capital to fund operations for at least the next twelve months - As of June 30, 2025, the company had **$2.0 million in cash and cash equivalents**[184](index=184&type=chunk) - Subsequent to the quarter end, the company raised net proceeds of approximately **$4.8 million from a public offering** and **$2.3 million from a promissory note**[184](index=184&type=chunk) - The company has access to a domestic receivables financing facility of up to **$2.5 million** and an international facility of up to **€3.0 million**[184](index=184&type=chunk) - Management expects existing cash and subsequent funding to be **sufficient to meet all obligations for at least one year** from the report's release date[184](index=184&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Sonim is not required to provide information regarding market risk - The company is a **smaller reporting company** as defined by Rule 12b-2 of the Exchange Act and is not required to provide this information[194](index=194&type=chunk) [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025 - Management concluded that the company's **disclosure controls and procedures were effective** as of the end of the reporting period[195](index=195&type=chunk) - There were **no material changes** in the company's internal control over financial reporting during the quarter[197](index=197&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) A complaint filed by AJP Holding Company and Orbic North America in April 2025 was dismissed in June 2025 - A complaint filed by AJP Holding Company, LLC and Orbic North America, LLC on April 24, 2025, was **dismissed without prejudice on June 2, 2025**[98](index=98&type=chunk)[101](index=101&type=chunk)[199](index=199&type=chunk) [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) This section adds new risks related to the proposed asset sale and RTO initiative and updates existing risk factors - A new group of risk factors, **"Risks Related to the Proposed Asset Purchase Agreement and Announced Strategic Initiatives,"** has been added[217](index=217&type=chunk) - Key new risks include potential failure to close the asset sale, business disruptions, and the risk of becoming a **'shell company'** if an RTO is not completed[217](index=217&type=chunk)[219](index=219&type=chunk)[223](index=223&type=chunk) - The U.S. trade policy risk was updated to note the imposition of a **145% tariff on imports from China**, though an exemption exists for smartphones[202](index=202&type=chunk) - The stockholder activism risk was amended to mention the recent campaign by **Orbic North America** to acquire Sonim[206](index=206&type-chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the reporting period - None[230](index=230&type=chunk) [Item 3. Defaults Upon Senior Securities](index=45&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon its senior securities during the period - None[231](index=231&type=chunk) [Item 4. Mine Safety Disclosures](index=45&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's business operations - Not applicable[232](index=232&type=chunk) [Item 5. Other Information](index=45&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the quarter - No directors or officers adopted or terminated a **Rule 10b5-1 trading arrangement** during the quarter[233](index=233&type=chunk) [Item 6. Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including the Asset Purchase Agreement and financing documents - Exhibit 2.1 is the **Asset Purchase Agreement** dated July 17, 2025[235](index=235&type=chunk) - Exhibits include various financing and corporate governance documents, such as a **promissory note (4.1)**, a **Rights Agreement (4.2)**, and **officer certifications (31.1, 31.2, 32.1, 32.2)**[235](index=235&type=chunk)[237](index=237&type=chunk)

[Q2 2025 Financial & Business Highlights](index=1&type=section&id=Q2%202025%20Financial%20%26%20Business%20Highlights) Sonim Technologies reported Q2 2025 net revenue of **$11.2 million** and a GAAP net loss of **$7.5 million**, with a strategic asset sale and new product launches Financial Highlights (Q2 2025 vs Q1 2025) | Financial Metric | Q2 2025 | Q1 2025 | Note | | :--- | :--- | :--- | :--- | | Net Revenue | $11.2 million | $16.7 million | Q1 included a one-time $5.3M revenue addition | | GAAP Net Income (Loss) | ($7.5 million) | $0.5 million | Q2 includes impairment loss and proxy costs | | Adjusted EBITDA* | ($3.2 million) | ($3.2 million) | Unchanged QoQ | | Cash and Cash Equivalents | $2.0 million | - | As of June 30, 2025 | - In July, Sonim entered a definitive agreement for Social Mobile to acquire substantially all of its assets in an all-cash transaction for **$15.0 million**, with up to an additional **$5.0 million** in an earn-out payment The deal is expected to close in Q4 2025, pending stockholder approval[5](index=5&type=chunk) - Key product launches are underway in Q3, including the XP Pro series and a 5G flip phone with tier-one carriers The company also launched the Sonim MegaConnect HPUE mobile hotspot with FirstNet and AT&T[2](index=2&type=chunk) - The company raised **$5.4 million** in net capital through common stock sales to fund product expansion and new launches[3](index=3&type=chunk) [Detailed Financial Performance Analysis](index=3&type=section&id=Detailed%20Financial%20Performance%20Analysis) Q2 2025 revenue decreased to **$11.2 million**, with gross profit at **$0.8 million** and a net loss of **$7.5 million**, impacted by one-time items Key Financial Metrics (Q2 2025 vs Q1 2025) | Metric | Q2 2025 | Q1 2025 | Key Factors | | :--- | :--- | :--- | :--- | | Net Revenue | $11.2M | $16.7M | Q1 included a $5.3M one-time revenue item | | Gross Profit | $0.8M | $8.4M | Q2 included a $1.1M impairment loss | | Net Income (Loss) | ($7.5M) | $0.5M | Q1 benefited from the $5.3M one-time item | - Operating expenses were stable at **$7.6 million**, as a **$0.7 million** decrease in R&D costs was offset by higher G&A and Sales & Marketing expenses due to legal fees from the contested proxy[8](index=8&type=chunk) - The company ended Q2 with **$2.0 million** in cash, **$2.9 million** in accounts receivable, and **$9.9 million** in inventory Subsequent to the quarter's end, it received net proceeds of **$7.1 million** from stock sales and debt issuance[10](index=10&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section presents unaudited condensed consolidated financial statements as of June 30, 2025, detailing total assets of **$36.1 million** and a Q2 net loss of **$7.5 million** [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Sonim reported **$2.0 million** in cash, **$27.1 million** in current assets, **$35.7 million** in current liabilities, and a **$1.3 million** stockholders' deficit Condensed Consolidated Balance Sheets (in thousands) | Balance Sheet Items (in thousands) | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $2,006 | $5,343 | | Inventory | $9,889 | $10,621 | | Total current assets | $27,123 | $32,165 | | Total assets | $36,078 | $39,739 | | **Liabilities & Equity** | | | | Accounts payable | $20,583 | $22,848 | | Total current liabilities | $35,662 | $43,740 | | Total liabilities | $37,412 | $45,439 | | Total stockholders' equity (deficit) | ($1,334) | ($5,700) | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, Sonim's net revenues were **$11.2 million**, gross profit **$0.8 million**, and net loss **$7.5 million** or **($0.79)** per basic share Condensed Consolidated Statements of Operations (in thousands) | Statement of Operations (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Total net revenues | $11,190 | $11,516 | | Gross profit | $845 | $2,969 | | Total operating expenses | $7,577 | $9,439 | | Income (loss) from operations | ($6,732) | ($6,470) | | Net income (loss) | ($7,475) | ($6,616) | | Net income (loss) per share, basic | ($0.79) | ($1.41) | [Non-GAAP Financial Measures](index=8&type=section&id=Non-GAAP%20Financial%20Measures) Sonim provides Adjusted EBITDA as a supplemental non-GAAP measure, reporting a Q2 2025 loss of **$3.2 million**, consistent with Q1, after various adjustments - Adjusted EBITDA is defined as net loss excluding stock-based compensation, depreciation & amortization, interest, taxes, customer allowance agreement expirations, asset impairments, financing costs, and non-recurring legal fees[25](index=25&type=chunk) Reconciliation to Adjusted EBITDA (in thousands) | Reconciliation to Adjusted EBITDA (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended March 31, 2025 | | :--- | :--- | :--- | | Net income (loss) | $(7,475) | $458 | | Adjustments: | | | | Release of customer allowance liabilities | $(219) | $(5,271) | | Impairment of contract fulfillment assets | $1,084 | — | | Non-recurring legal and professional fees | $613 | — | | Other standard adjustments | $2,845 | $1,478 | | **Adjusted EBITDA** | **$(3,151)** | **$(3,245)** | [Corporate Information & Forward-Looking Statements](index=3&type=section&id=Corporate%20Information%20%26%20Forward-Looking%20Statements) This section outlines Sonim's business, forward-looking statements, and details regarding the proposed asset sale to Social Mobile, emphasizing associated risks and stockholder information - The company plans to file a proxy statement with the SEC concerning the proposed asset sale to Social Mobile and urges stockholders to read it before making any voting decisions[15](index=15&type=chunk) - Forward-looking statements involve significant risks, including the ability to obtain stockholder approval for the asset sale, the timing of the closing, the potential for competing offers, and the impact of the announcement on business relationships[14](index=14&type=chunk) - Sonim's directors and executive officers may be deemed participants in the solicitation of proxies for the proposed transaction[16](index=16&type=chunk)

Core Insights - Sonim Technologies is positioned for growth in the second half of 2025 with the launch of its XP Pro series and 5G flip feature phone through tier-one carriers [2] - The company reported a net revenue of $11.2 million for Q2 2025, a decrease of 33% from Q1 2025, primarily due to a one-time revenue adjustment in the previous quarter [7][8] - Sonim's net loss for Q2 2025 was $7.5 million, compared to a net income of $0.5 million in Q1 2025, reflecting challenges in the current financial environment [11] Financial Highlights - Q2 2025 net revenue was $11.2 million, down from $16.7 million in Q1 2025, with the first quarter benefiting from a one-time $5.3 million revenue addition [7][8] - Gross profit for Q2 2025 was $0.8 million, representing 8% of revenues, a significant decline from $8.4 million or 50% of revenues in Q1 2025 [9] - Adjusted EBITDA for Q2 2025 was negative $3.2 million, unchanged from Q1 2025 [11] Business Developments - The company launched the XP Pro smartphone with AT&T and began shipments of the Sonim H500 mobile hotspot to European distributors [7] - Sonim entered into a definitive agreement with Social Mobile for the acquisition of substantially all of its assets for $15 million, with an additional potential earn-out of $5 million [7] - The company ended Q2 2025 with cash and cash equivalents of $2.0 million, trade accounts receivable of $2.9 million, and inventory valued at $9.9 million [12] Corporate Updates - Sonim's Board of Directors approved the acquisition agreement with Social Mobile, which is expected to close in Q4 2025, pending customary closing conditions [7] - The company raised $5.4 million in capital through common stock sales to support product expansion and new launches [7] - Sonim's stockholders elected five director nominees to the Board, indicating a stable governance structure moving forward [7]

Sonim XP Pro Ultra-Rugged Smartphone Now Available Across Canada on Bell, Telus, Rogers, and SaskTel Built for Mission-Critical Professionals, the XP Pro Delivers Unmatched Durability, Performance, and Reliability July 30, 2025 7:00 AM EDT | Source: Sonim Technologies, Inc. San Diego, California--(Newsfile Corp. - July 30, 2025) - Sonim Technologies (NASDAQ: SONM), a leading provider of ultra-rugged mobile solutions, today announced the launch and availability of the Sonim XP Pro across Canada. Now availabl ...

Core Insights - Sonim Technologies has launched the XP Pro, a rugged smartphone certified for T-Mobile's T-Priority solution, specifically designed for first responders and mission-critical users [1][3][6] - The XP Pro features advanced connectivity with 5G capabilities powered by the Qualcomm SM4450 chipset, ensuring faster data speeds and reliable performance in demanding environments [3][9] - The device is built to withstand extreme conditions, meeting IP68 and MIL-STD-810H durability standards, making it suitable for industrial, emergency response, and maritime settings [9] Product Features - The XP Pro comes with 8GB of RAM and 256GB of storage, expandable to 2TB, enabling it to handle demanding applications such as real-time monitoring and high-resolution imaging [5][9] - It is equipped with a robust 5000mAh battery that supports long workdays and features fast-charging capabilities [9] - The smartphone includes dual loudspeakers with over 100 dB output and noise cancellation technology, ensuring exceptional audio clarity in high-noise environments [9] Market Positioning - Sonim Technologies positions the XP Pro as a solution for various sectors including enterprise, construction, logistics, healthcare, and public safety, emphasizing its ruggedness and reliability [3][6] - The device is backed by a comprehensive 3-year warranty and support, enhancing its appeal to mission-critical professionals [9]

Sonim Technologies Stockholders Elect All Five Sonim Nominees at 2025 Annual Meeting July 22, 2025 7:00 AM EDT | Source: Sonim Technologies, Inc. San Diego, California--(Newsfile Corp. - July 22, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of rugged mobile solutions, today announced that Sonim stockholders have elected all five of the Company's director nominees - Mike Mulica, Peter Liu, James Cassano, Jack Steenstra, and George Thangadurai - to the Company's Board of Directors. The ...

Acquisition Overview - Sonim Technologies, Inc. has entered into a definitive agreement for Social Mobile to acquire its assets and substantially all current liabilities for $20 million, which includes a potential earn-out of $5 million in an all-cash transaction [1][4] - The transaction is expected to close in Q4 2025, pending customary closing conditions, including shareholder and regulatory approvals [3][4] Strategic Alignment - This acquisition aligns with Social Mobile's strategy to expand its presence in the purpose-built enterprise mobility market, leveraging Sonim's expertise in mission-critical mobile solutions [2][4] - The combination of Social Mobile's resources and Sonim's strong foundation is anticipated to enhance product portfolios, service capabilities, and drive innovation to meet evolving customer needs [4] Leadership Insights - Robert Morcos, CEO of Social Mobile, expressed enthusiasm about the synergies created by the acquisition and the potential for growth and value delivery to Sonim's customers [4] - Mike Mulica, Chair of the Board of Directors at Sonim, highlighted that the acquisition represents a pivotal step in returning value to shareholders while ensuring Sonim's long-term success [4] Company Profiles - Sonim Technologies is a leading provider of rugged mobile solutions, trusted by first responders and Fortune 500 companies, with a focus on durability and protection for users [6][7] - Social Mobile specializes in enterprise mobility solutions and custom device development for major industries, having distributed over 15 million devices globally [8][9]

Core Insights - The Sonim MegaConnect is the first ultra-portable 5G HPUE mobile hotspot designed specifically for public safety on FirstNet, enhancing connectivity for first responders [2][5][12] - The device offers 6x the transmission power and up to 2x faster speeds compared to standard hotspots, improving coverage in rural and urban environments [5][6][9] - The MegaConnect is compact, ruggedized, and priced affordably at $99 for a limited time, making it accessible for first responders [7][15] Product Features - The MegaConnect utilizes Band 14, a high-quality spectrum reserved for FirstNet, ensuring superior coverage and penetration through obstacles like glass and concrete [6][12] - It incorporates next-generation AirJet cooling technology, allowing for full HPUE performance in a portable form factor [10][12] - The device is designed for durability and ease of deployment, suitable for various emergency situations [10][11] Market Position - Sonim Technologies positions the MegaConnect as the most affordable HPUE on the market, targeting first responders and other mission-critical users [7][13] - The device is available exclusively through AT&T and FirstNet channels, with a promotional price aimed at increasing adoption among public safety agencies [15][16] - Beyond first responders, the MegaConnect can also serve utilities, financial institutions, and other enterprises needing reliable connectivity [13]

Core Viewpoint - Glass Lewis & Co. recommends Sonim Technologies stockholders support AJP/Orbic's campaign for immediate board changes by voting for their proposed director candidates [1][2]. Group 1: Board Change Campaign - AJP and Orbic are advocating for a reconstitution of Sonim's board, emphasizing the need for accountability due to the current board's history of value destruction and poor capital management [2][3]. - The three recommended nominees by AJP/Orbic possess significant industry expertise, with strengths in software, artificial intelligence, and cloud infrastructure [2]. Group 2: Voting Instructions - Stockholders are urged to vote using the BLUE proxy card for the AJP/Orbic nominees and against the incumbent board and the company's equity incentive plan [4][3]. - Voting closes on July 17, 2025, at 11:59 PM Eastern Time, and stockholders are encouraged to change their votes if they have already voted using the WHITE card [3][4]. Group 3: Company Background - Orbic is a technology company based in New York, focusing on innovative mobile solutions and providing accessible technology to a broader audience [7].