Sonim Technologies Closes Non-Dilutive Financing of $3 Million in Net Proceeds
Summary
San Diego, California--(Newsfile Corp. - February 24, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of rugged mobile solutions, today announced it has closed financing of a non-dilutive, non-convertible unsecured promissory note with net proceeds of $3 million. Sonim continues to assess various inbound strategic alternatives.The promissory note accrues interest at a rate of 9% per annum and matures 18 months from issuance. "This non-dilutive, non-convertible debt financing enhances our ability to achieve important commercial progress and ongoing growth initiatives while maintaining a disciplined approach to our capital structure. "Sonim Technologies is a leading U.S. provider of ultra-rugged and rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, we currently sell our ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand.
Funding
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