Sonim Technologies Closes Non-Dilutive Financing of $3 Million in Net Proceeds

Core Insights - Sonim Technologies, Inc. has successfully closed a financing round through a non-dilutive, non-convertible unsecured promissory note, raising net proceeds of $3 million [1][2] - The financing is aimed at accelerating the company's progress towards standalone profitability and is part of ongoing assessments of various inbound strategic alternatives [1][2] Financial Details - The promissory note carries an interest rate of 9% per annum and has a maturity period of 18 months from the date of issuance [2] - The Chief Financial Officer of Sonim Technologies emphasized that this strategic financing enhances the company's financial strength and supports important commercial progress and growth initiatives while maintaining a disciplined capital structure [2] Company Overview - Sonim Technologies is recognized as a leading provider of ultra-rugged and rugged mobile solutions, catering to sectors that require durable devices, including first responders and Fortune 500 companies [2] - The company has been operational since 1999 and distributes its products through tier one wireless carriers and distributors across North America, EMEA, and Australia/New Zealand [2]