Sonim Technologies' Shareholders Approve Asset Purchase Agreement With NEXA

Benzinga·12/31/2025 13:36:06

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Sonim Technologies, Inc. (NASDAQ:SONM) today announced that its stockholders approved the previously announced Asset Purchase Agreement with NEXA® (formerly Social Mobile) at a special meeting held on December 30, 2025.

The approval authorizes Sonim to complete the sale of substantially all assets related to its rugged mobile phone and hotspot business. The transaction is expected to close in January 2026, subject to customary closing conditions. Proceeds from the transaction are expected to be used to retire debt and provide working capital for the company's cryptocurrency trading platform business.

Following the closing, NEXA, a privately held company, will acquire Sonim's brand and rugged device portfolio. NEXA will continue to manufacture, market, and sell Sonim-branded rugged mobile phones and mobile broadband products as part of its enterprise mobility solutions.

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