Sonim Technologies Announces Pricing of Initial Public Offering
SAN MATEO, Calif., May 9, 2019 /PRNewswire/ -- Sonim Technologies (Nasdaq: SONM), a leading U.S. provider of ultra-rugged mobility solutions designed specifically for task workers physically engaged in their work environments, today announced the pricing of its initial public offering of 3,571,429 shares of common stock at a price to the public of $11.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to 535,714 additional shares of common stock to cover over-allotments, if any, at the initial public offering price less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Market on May 10, 2019, under the ticker symbol "SONM." The offering is expected to close on May 14, 2019, subject to customary closing conditions.
Oppenheimer & Co. Inc. is acting as lead book-running manager and Lake Street Capital Markets, LLC is acting as joint book-running manager for the proposed offering. National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., is acting as co-manager for the proposed offering.
The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, 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 EquityProspectus@opco.com; 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@example.com.
A registration statement relating to these securities has been filed with, and declared effective, by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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SOURCE Sonim Technologies
Released May 9, 2019