Intel stock spikes after report of possible US government stake
SAN DIEGO - Sonim Technologies, Inc. (NASDAQ:SONM), currently valued at $12.61 million in market capitalization with annual revenues of $58.24 million, announced Tuesday the pricing of a public offering of 7,400,000 shares of its common stock at $0.75 per share, expected to generate approximately $5.55 million in gross proceeds. InvestingPro data shows the company operating with weak gross profit margins of 20.45%.
The offering is anticipated to close on or about July 2, 2025, subject to customary closing conditions. Roth Capital Partners is serving as the exclusive placement agent for the transaction.
Sonim, which specializes in rugged mobile solutions, plans to use the net proceeds to support its business operations, working capital, and general corporate purposes, which may include debt repayment and refinancing, according to the company’s press release statement.
The securities are being offered through a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on June 30, 2025.
Sonim Technologies provides ruggedized mobile devices including phones and wireless internet data devices designed for users requiring extra durability. The company serves first responders, government agencies, and Fortune 500 customers through tier one wireless carriers and distributors across North America, EMEA, and Australia/New Zealand.
The announcement comes as the company continues its operations in the competitive rugged mobile solutions market where durability and reliability are key selling points for specialized customer segments.
In other recent news, Sonim Technologies has provided an update on its proposed reverse takeover with a private U.S. company focused on Nvidia-based High-Performance Computing AI factories. Under the terms of the Letter of Intent, Sonim shareholders would receive equity valued at $17.5 million in the combined entity. Meanwhile, Sonim has received an unsolicited acquisition offer from Orbic North America, proposing to buy substantially all of Sonim’s assets for $25 million. This offer, supported by a $50 million financing commitment, does not interfere with the ongoing reverse takeover plans. Major investors, AJP Holding Company and Orbic North America, have called for a leadership overhaul at Sonim, citing financial losses and strategic concerns. They have nominated five new director candidates for the upcoming annual meeting. Additionally, Orbic has made a revised acquisition proposal, offering a 66.7% premium over a previous offer from Social Mobile. These developments highlight the strategic crossroads Sonim is currently navigating.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.