Sonim Technologies, Inc. announced that it has entered into a subscription agreement with an individual investor to issue 3,500,000 common shares, par value $0.001 at a price of $1.10 per share for the gross proceeds of $3,850,000 and warrants to purchase up to 3,500,000 shares of common stock on April 29, 2024. The issuance of shares of Common Stock and Warrants pursuant to the Subscription Agreement was made in reliance upon the exemptions from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended. Each Warrant has an exercise price of $1.10 per share, is immediately exercisable, will expire on April 29, 2029, and is subject to customary adjustments for certain transactions affecting the company?s capitalization.

The Warrants may not be exercised if the aggregate number of shares of Common Stock beneficially owned by the Purchaser would exceed the specified beneficial ownership limitation provided therein immediately after exercise thereof. The Purchaser agreed not to transfer shares of common stock and warrants purchased under the Subscription Agreement until 180 days after the closing or October 29, 2024 subject to customary limited exceptions.