Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Laurence W. Lytton, a ten percent owner of Sonim Technologies (NASDAQ:SONM), sold 866,916 shares of common stock in two transactions, according to a Form 4 filing with the Securities and Exchange Commission. The sales come as the stock has shown significant volatility, with InvestingPro data showing an 87.8% decline over the past year, though the stock has recently rebounded with a 3.4% gain in the past week.
On June 26, 2025, Lytton sold 466,402 shares in multiple transactions at prices ranging from $1.28 to $1.75, for a total value of $699,603. Then, on June 30, 2025, Lytton sold an additional 400,514 shares in multiple transactions at prices ranging from $1.30 to $1.47, for a total value of $556,714. The total value of shares sold amounts to $1,256,317. Following these transactions, Lytton directly owns no shares.
Lytton indirectly owns 800,000 shares of Sonim Technologies stock through the Lytton-Kambara Foundation, of which he is president.
In other recent news, Sonim Technologies has provided an update on its proposed reverse takeover with a private U.S. company specializing in Nvidia-based High-Performance Computing AI factories. This transaction, outlined in a Letter of Intent, would grant Sonim shareholders equity ownership valued at $17.5 million in the combined entity. Meanwhile, Orbic North America has submitted an unsolicited proposal to acquire substantially all of Sonim’s operating assets for $25 million, a move that would not interfere with the reverse takeover plans. Orbic’s offer is supported by a $50 million financing commitment from a third-party lender, highlighting their serious intent. Additionally, major investors AJP Holding Company and Orbic North America, who together hold a 19% stake in Sonim, are advocating for a complete overhaul of the company’s leadership. They have nominated five new director candidates, expressing dissatisfaction with the current board’s strategic direction, including the proposed asset sale and reverse takeover. The investors have raised concerns about Sonim’s financial performance, noting significant cumulative losses and a substantial decline in stock value over recent years. These developments come amid Sonim’s ongoing strategic review process, as the company seeks to navigate its financial and operational challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.