Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously reported, on July 22, 2020 Sonim Technologies, Inc. (the
"Company") received a deficiency letter from the Listing Qualifications
Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying the
Company that, for the last 30 consecutive business days, the bid price for the
Company's common stock had closed below the minimum $1.00 per share requirement
for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing
Rule 5450(a)(1) (the "Bid Price Rule"). In accordance with Nasdaq Listing
Rule 5810(c)(3)(A) (the "Compliance Period Rule"), the Company was provided an
initial period of 180 calendar days, or until January 18, 2021, to regain
compliance with the Bid Price Rule.
On January 5, 2021, the Company applied to transfer the listing of its stock
from the Nasdaq Global Market to the Nasdaq Capital Market. The Nasdaq Capital
Market is a continuous trading market that operates in substantially the same
manner as the Nasdaq Global Market and listed companies must meet certain
financial requirements and comply with Nasdaq's corporate governance
requirements.
On January 20, 2021, Nasdaq approved the Company's transfer application. This
transfer will be effective at the opening of business on January 22, 2021. The
Company's common stock will continue to trade under the symbol "SONM." Nasdaq
has advised the Company that following the effectiveness of transfer of its
listing, the Company will be granted an additional 180-day period, or until
July 19, 2021 (the "Compliance Date"), to regain compliance with Bid Price Rule.
If, at any time before the Compliance Date, the bid price for the Company's
common stock closes at $1.00 or more for a minimum of 10 consecutive business
days as required under the Compliance Period Rule, the Staff will provide
written notification to the Company that it complies with the Bid Price Rule,
unless the Staff exercises its discretion to extend this 10 day period pursuant
to Nasdaq Listing Rule 5810(c)(3)(F).
If the Company does not regain compliance with the Bid Price Rule by the
Compliance Date, the Staff will provide written notification to the Company that
its common stock may be delisted. At that time, the Company may appeal the
Staff's delisting determination to a Hearings Panel ("Panel"). The Company
expects that its stock would remain listed pending the Panel's decision. There
can be no assurance, if the Company does appeal a delisting determination to the
Panel, that such appeal would be successful. The Company has provided written
notice of its intention to regain compliance with the Bid Price Rule prior to
the Compliance Date by carrying out a reverse stock split, if necessary.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press release dated January 20, 2021--------------------------------------------------------------------------------
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SONIM TECHNOLOGIES, INC. 
