Non-convertible unsecured promissory note issued
Family office invests in promissory note
No warrants issued
Accelerates progress to standalone profitability
Sonim continues to assess various inbound strategic alternatives
San Diego, California--(Newsfile Corp. - February 24, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of rugged mobile solutions, today announced it has closed financing of a non-dilutive, non-convertible unsecured promissory note with net proceeds of $3 million. The investor is a Chicago-based family office. This financing helps accelerate Sonim's progress to standalone profitability. Sonim continues to assess various inbound strategic alternatives.
The promissory note accrues interest at a rate of 9% per annum and matures 18 months from issuance.
"This pivotal and strategic financing increases our financial strength," said Clay Crolius, Chief Financial Officer of Sonim Technologies. "This non-dilutive, non-convertible debt financing enhances our ability to achieve important commercial progress and ongoing growth initiatives while maintaining a disciplined approach to our capital structure."
About Sonim Technologies
Sonim Technologies is a leading U.S. provider of ultra-rugged and rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, we currently sell our ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience while providing an extra level of protection. For more information, visit www.sonimtech.com.
Media Contact
Anette Gaven
anette.gaven@sonimtech.com
+16199933058
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242047
SOURCE: Sonim Technologies, Inc.
