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 Viewpoint - Sonim Technologies' Special Committee has determined that the unsolicited proposal from Orbic North America is inferior to the existing Letter of Intent with Social Mobile for the sale of Sonim's operating assets, emphasizing the commitment to maximizing stockholder value through the Social Mobile transaction [1][2]. Group 1: Comparison of Proposals - The Social Mobile LOI offers greater transaction value and certainty as it does not require third-party financing, providing a clear path for the sale of legacy assets and a concurrent reverse takeover [2]. - Orbic's proposal is highly conditional, with financing contingent upon satisfactory due diligence and lacking clarity on the financing source, raising concerns about its feasibility [2][3]. - The likelihood of consummation is higher with Social Mobile, as negotiations for a definitive agreement are actively progressing and a cooperative relationship has been established [2][3]. Group 2: Concerns Regarding Orbic - Orbic's proposal entails high execution and timing risks, jeopardizing the progress made under the Social Mobile LOI and requiring a restart of due diligence and negotiations [2][3]. - Orbic has a concerning track record, having been involved in over ten legal actions in the past decade, including significant judgments against its affiliates [3]. - The strategy employed by Orbic, which includes litigation and a proxy contest, raises questions about its credibility and true motives [3]. Group 3: Call to Action - The Special Committee urges stockholders to support the strategic path forward with Social Mobile, which is believed to deliver the best value and terms available [4].