AJP Holding Company, LLC and Orbic North America, LLC sent another open letter to Sonim stockholders on July 9, 2025. They reiterated their call for immediate change, stating that the entrenched Sonim board turned down a superior offer from Orbic.
Orbic's revised offer represented a 66.7% premium over the amount payable by Social Mobile at an initial closing, and was backed by a $50 million financing commitment. The letter criticized Sonim for not engaging in dialogue regarding this offer.
The dissident shareholders also highlighted Sonim's recent dilutive stock offering of 7.4 million shares at $0.75 per share, which they claimed further devastated stockholder value. They urged stockholders to vote for the AJP/Orbic nominees at the July 18, 2025, Annual Meeting.
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