Sonim Announces Closing of $27.6 Million Public Offering, Including Full Exercise of Underwriters’ Overallotment Option

AUSTIN, TX – June 9, 2020 – Sonim Technologies, Inc. (Nasdaq: SONM), today announced the closing of its previously announced underwritten public offering of 36,800,000 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 4,800,000 additional shares of common stock, at a price to the public of $0.75 per share. The aggregate gross proceeds to Sonim from the offering were approximately $27.6 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock were sold by Sonim.  Sonim intends to use a portion of the net proceeds from the offering to repay $4.0 million of the outstanding principal amount and accrued interest under the subordinated secured convertible promissory note issued to B. Riley Principal Investments, LLC, (the “BRPI Indebtedness”), and the remaining amount of the BRPI Indebtedness shall be converted into shares of Sonim’s common stock at $0.75 per share.

Oppenheimer & Co. Inc. and Lake Street Capital Markets LLC acted as joint book-running managers for the offering.

A registration statement, including a prospectus, relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on June 4, 2020. Copies of the final prospectus relating to the offering may be obtained from: Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8563, or by email at [email protected]; or from Lake Street Capital Markets, LLC, Attention: Equity Syndicate Department, 920 2nd Avenue South, Suite 700, Minneapolis, MN 55402, or by telephone at (612) 326-1305, or by email at [email protected].

This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

About Sonim Technologies, Inc.

Sonim Technologies is a leading U.S. provider of ultra-rugged mobility solutions designed specifically for task workers physically engaged in their work environments, often in mission-critical roles. The Sonim solution includes ultra-rugged mobile phones, a suite of industrial-grade accessories,