Sonim announces equity transaction to drive growth and expand addressable market

Entering larger semi-rugged and industrial 5g growth markets peter liu to become chief executive officer austin, texas , april 14, 2022 /prnewswire/ -- sonim technologies, inc. (nasdaq: sonm) ("sonim" or the "company"), a leading u.s. provider of ultra-rugged mobile devices, accessories and solutions designed specifically for task workers physically engaged in their work environments, today announced that it has entered into a subscription agreement with u.s.-based ajp holding company, llc ("ajp") whereby, subject to the terms thereof, ajp will purchase a total of 20.8 million shares at a price of $0.84 per share and an aggregate purchase price of $17.5 million. upon completion of the transaction, which is subject to stockholder approval and other customary closing conditions, ajp will own approximately 52% of sonim's post-transaction outstanding capital stock based on an estimated 19.3 million shares outstanding prior to the transaction.
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