Sonim Technologies Stockholders Approve Asset Sale to NEXA, Clearing Path for Strategic Transition

Core Viewpoint - Sonim Technologies has received stockholder approval for the Asset Purchase Agreement with NEXA, allowing the company to sell its rugged mobile phone and hotspot business, with the transaction expected to close in January 2026 [1][2][9] Group 1: Transaction Details - The sale involves substantially all assets related to Sonim's rugged mobile phone and hotspot business, with proceeds intended for debt retirement and working capital for the company's cryptocurrency trading platform [2][4] - NEXA will acquire Sonim's brand and rugged device portfolio, continuing to manufacture and sell Sonim-branded products as part of its enterprise mobility solutions [3][9] Group 2: Strategic Shift - Following the asset sale, Sonim will rebrand and focus on its newly acquired crypto trading platform, DNA X, which operates a decentralized finance protocol [4][5] - The company plans to change its name to "DNA X, Inc." and will begin trading under a new Nasdaq ticker symbol "DNAX" within 30 days after the sale's completion [4][9] Group 3: Leadership Perspective - Mike Mulica, Executive Chair of Sonim Technologies, emphasized that this transaction marks a significant turning point for the company, allowing it to focus on scaling the DNA X platform while leaving the rugged mobility business to NEXA [5]