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Orbic proposal remains conditional, uncertain, and unlikely to maximize value for Sonim stockholders
San Diego, California--(Newsfile Corp. - July 2, 2025) - Sonim Technologies (NASDAQ:SONM) today announced that its Special Committee of the Board of Directors (the "Special Committee") has considered, with advice from its financial advisor and legal counsel, the unsolicited, non-binding proposal from Orbic North America, LLC ("Orbic") dated June 26, 2025, and has determined it to be inferior to the previously announced Letter of Intent (the "Social Mobile LOI") between Sonim and Social Mobile for the sale of substantially all of Sonim's operating assets. The Special Committee remains committed to maximizing stockholder value and believes the Social Mobile LOI represents a superior alternative.
Posted In: SONM
