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Orbic Submits Asset Purchase Proposal to Sonim Technologies, Inc.
Offer to acquire substantially all of Sonim's assets for a cash purchase price of $25 millionPurchase price equates to a price per share of $2.418Hauppauge, New York--(Newsfile Corp. - June 26, 2025) - Orbic North America, LLC ("Orbic"), an international leader in mobile technology innovation, sent a revised acquisition proposal letter to Sonim Technologies, Inc. (NASDAQ: SONM) ("Sonim" or the "Company"), today in which Orbic re-emphasized Orbic's interest in negotiating a mutually agreeable tra
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[{"type":"text","content":"Offer to acquire substantially all of Sonim's assets for a cash purchase price of $25 million","length":97,"tagName":"p","attribs":{}},{"type":"text","content":"Purchase price equates to a price per share of $2.418","length":53,"tagName":"p","attribs":{}},{"type":"text","content":"Hauppauge, New York--(Newsfile Corp. - June 26, 2025) - Orbic North America, LLC ("Orbic"), an international leader in mobile technology innovation, sent a revised acquisition proposal letter to Sonim Technologies, Inc. (NASDAQ: SONM) ("Sonim" or the "Company"), today in which Orbic re-emphasized Orbic's interest in negotiating a mutually agreeable transaction with Sonim.","length":408,"tagName":"p"},{"type":"text","content":"In its non-binding proposal, Orbic proposed to purchase substantially all of Sonim's assets for a cash purchase price of $25 million, which equates to a price per share of $2.418. Orbic's proposal is backed by a $50 million financing commitment from a third-party lender. Orbic stated that it is prepared to expeditiously complete confirmatory due diligence and to prepare and negotiate a definitive asset purchase agreement. The Orbic asset purchase offer would not preclude Sonim from additionally proceeding on a parallel path with the Reverse Take-Over transaction announced in its June 25, 2025 press release. The offer is supported by Orbic beneficially owning, together with AJP Holding Company, LLC, approximately 19% of the outstanding common stock of Sonim.","length":775,"tagName":"p"},{"type":"text","content":"A copy of the revised acquisition proposal and financing commitment letter can be viewed in their entirety on the Securities and Exchange Commission's website at www.sec.gov on Edgar in the Schedule 13D/A filed by Orbic.","length":224,"tagName":"p"},{"type":"text","content":"About Orbic ","length":11,"tagName":"p"},{"type":"text","content":"Orbic, a U.S.-headquartered technology company based in New York, reimagines the connected experience by thinking outside of the mainstream. Using best-in-class technology, Orbic provides meaningful features to customers seeking something unique and accessible to all, without exclusion. As a leader in developing and manufacturing innovative mobile solutions for smart, value-tech consumers, Orbic offers a full portfolio of connected soluti...