Stockholders elected each of the Company’s five director nominees to the Board of Sonim Technologies, Inc (SONM)

Market Cap: $10 million | Sonim Technologies, Inc. provides ruggedized mobile phones and accessories for task workers.

On March 21, 2025, AJP Holding and Orbic North America announced plans to nominate five candidates for the Board at the 2025 Annual Meeting. They criticized Sonim's Board for resisting strategic discussions, which they believe have harmed stockholder value, and aim to bring operational and financial improvements through their nominees. Source

On April 10, 2025, AJP Holding and Orbic North America strongly objected to Sonim Technologies’ April 7, 2025 rejection of their board nomination notice, calling it a baseless and improper attempt to entrench the current board. They argue the notice fully met disclosure requirements, detailing the nominees’ exten  sive qualifications. Citing legal precedents, stock underperformance, governance concerns, and recent financial losses, they accuse the board of violating fiduciary duties. AJP demanded the rejection be reversed and warned they would pursue all legal options if the board persists in blocking shareholder rights. Source

On April 16, 2025, AJP and Orbic filed a preliminary proxy statement with the SEC to solicit votes for their director nominees to the board at the 2025 annual meeting.

On April 24, 2025, AJP and Orbic filed a complaint in the Delaware Court of Chancery against the company and its Board, seeking to block actions preventing director nominations per the company's bylaws and alleging fiduciary breaches by the directors. Source

On June 2, 2025, AJP, Orbic and the Director Defendants entered into a Stipulation of Dismissal pursuant to which AJP and Orbic voluntarily discontinued the Delaware Action without prejudice. Source

On June 26, 2025, Orbic submitted a revised non-binding proposal to acquire substantially all of Sonim’s assets for $25 million in cash, subject to specified terms. The same day, AJP and Orbic issued an open letter urging Sonim stockholders to support their slate of independent nominees at the July 18, 2025, Annual Meeting.

On July 9, 2025, AJP Holding and Orbic issued an open letter urging stockholders to vote for their independent board nominees at the upcoming July 18 annual meeting. They criticized Sonim’s board for rejecting a superior, well-financed acquisition offer from Orbic—offering a 66.7% premium—and instead pursuing an exclusive, non-binding deal with Social Mobile® that lacks transparency and signed agreements. AJP and Orbic highlighted Sonim’s 75% stock price plunge, a dilutive offering, and continued value destruction, calling for a complete leadership overhaul to restore shareholder value.

On July 14, 2025, ISS recommended shareholders vote FOR Sonim management nominees in the WHITE proxy card, citing appropriate board actions and concerns over Orbic’s “unreasonable demands and incomplete offers.” Source

On July 15, 2025, Glass Lewis & Co. has recommended that stockholders support immediate and meaningful boardroom change by voting “FOR” the election of three director candidates (Joseph M. Glynn, Surendra Singh and Michael Wallace) proposed by AJP and Orbic on the BLUE proxy card. Source

At the AGM held on July 17, 2025, stockholders elected each of the Company’s five director nominees to the Board.