SCHEDULE: 1 Main Capital Discloses 8.2% Stake in Sonim Technologies

1 Main Capital Management, LLC and its affiliates have disclosed an 8.2% beneficial ownership stake in Sonim Technologies Inc., totaling 1,516,842 shares.

Summary

• 1 Main Capital Management, LLC, Yaron Naymark, 1 Main Capital Partners, L.P., and 1 Main Capital GP, LLC (collectively, "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G.
• The Reporting Persons collectively beneficially own 1,516,842 shares of Sonim Technologies Inc. Common Stock.
• This represents an 8.2% ownership stake in the company's common stock.
• The ownership is comprised of 1,095,987 shares held by Fund 1, 150,000 shares underlying warrants held by Fund 1, and 270,855 shares held by Fund 2.
• The percentage is calculated based on 18,281,736 shares outstanding as of September 30, 2025, plus the 150,000 shares underlying warrants.
• The acquisition of these securities was not for the purpose of changing or influencing control of the issuer, except for activities solely related to a nomination under Rule 14a-11.

Sentiment

Score: 7

Explanation: The disclosure of a significant 8.2% stake by an institutional investor like 1 Main Capital Management can be viewed positively, as it often implies a belief in the company's value or future prospects. While the filing states the purpose is not to influence control, the exception for board nominations introduces a slight element of potential future activism, which could be seen as either positive (for governance) or slightly negative (for stability) depending on perspective. Overall, a net positive signal of investor interest.

Positives

• A significant institutional investor, 1 Main Capital Management, LLC, has taken an 8.2% beneficial ownership stake in Sonim Technologies Inc., potentially signaling confidence in the company's future.
• The investment firm's stake could attract further institutional interest and scrutiny, potentially leading to improved corporate governance or strategic direction.

Negatives

• The filing itself does not contain explicit negative information regarding Sonim Technologies Inc.

Risks

• The filing states that the securities were not acquired for the purpose of changing or influencing control, "other than activities solely in connection with a nomination under §§ 240.14a-11." This suggests a potential for shareholder activism related to board nominations, which could lead to management distraction or strategic shifts.

Future Outlook

The filing does not provide any forward-looking statements or guidance from Sonim Technologies Inc. or the reporting persons regarding the company's future operations or financial performance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This Schedule 13G filing indicates a significant passive investment by an institutional fund in Sonim Technologies. Such filings are common in the market, reflecting investment firms taking positions in publicly traded companies. The specific industry context of Sonim Technologies (e.g., rugged mobile devices) is not detailed in this filing, but a substantial stake by an investment firm can sometimes signal perceived value or potential for strategic changes within that industry segment.

Comparison to Industry Standards

• Not applicable, as this filing is a disclosure of beneficial ownership and does not contain operational or financial results for comparison.

Corporate Governance

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake could increase investor confidence and potentially attract more institutional interest, which might positively influence share price. The potential for board nominations could also lead to governance improvements.
• Management: Management may face increased scrutiny or engagement from 1 Main Capital Management, especially if board nominations are pursued.

Next Steps

• The filing does not explicitly mention any future actions or milestones for Sonim Technologies Inc. or the reporting persons, beyond the ongoing beneficial ownership.

Key Dates

Recommendation

The filing indicates a significant institutional investor has taken an an 8.2% stake in Sonim Technologies. While this signals confidence and potential for future engagement (including board nominations), a Schedule 13G filing primarily discloses ownership and does not provide new operational or financial data to warrant a 'buy' or 'sell' recommendation. The 'other than activities solely in connection with a nomination under §§ 240.14a-11' clause suggests a potential for shareholder activism, which could be a catalyst, but without further details on the investor's intentions or the company's performance, a 'hold' is appropriate to observe developments.

Keywords

Sonim Technologies, 1 Main Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Shareholder Stake, Investment Firm, 83548F309