Sonim Technologies enters equity facility agreement with Chardan

Sonim Technologies Inc. (NASDAQ: SONM) announced it entered into a committed equity facility agreement with Chardan Capital Markets LLC on September 29, 2025.

Under the purchase agreement, Sonim has the option to sell up to $500 million in newly issued common stock to Chardan, subject to certain conditions and limitations. The company is not obligated to sell any securities under the arrangement.

The facility operates similarly to an at-the-market equity facility, allowing Sonim to raise capital periodically outside of traditional underwritten offerings. The company retains sole discretion over the timing and amount of any stock sales, which will depend on market conditions, stock trading prices, and the company's intended use of proceeds.

Net proceeds from potential sales will vary based on the frequency and prices at which shares are sold to Chardan. The agreement also includes provisions for future at-the-market sales through Chardan as a placement agent if Sonim becomes eligible to use a Form S-3 registration statement without limitations.

Sonim also entered into a registration rights agreement with Chardan as part of the transaction. The company stated the information is based on its press release.

You May Also Be Interested In

• Nuvectis Pharma (NVCT) files $200M mixed shelf
• enVVeno Medical (NVNO) files $100M mixed shelf
• MAIA Biotechnology (MAIA) files $150M mixed shelf