London-based investment bank, ARC Associates, acted as financial advisor and Joint Placement Agent on the issue of US$ 3M Convertible Debt Notes for Sonim Technologies Inc (“Sonim”), a US leading provider of ruggedized mobile phones. The Notes have a two year maturity and are convertible into Preferred Equity at a conversion price dependent on the time of conversion.
Sonim Technologies, www.sonimtech.com is the provider of the world's most rugged, water-submersible mobile phones designed specifically for workers in challenging outdoor and industrial environments. Sonim's industry-leading three-year comprehensive warranty has redefined customer expectations of rugged technology. Sonim provides a suite of high-performance workforce management applications including push-to-talk and lone worker safety services on cellular networks. The company is headquartered in San Mateo, California and offers its products in over 50 countries.
As Joint Placement Agent to Sonim, ARC Associates supported the Company throughout the transaction from identifying suitable investors through established relationships, developing a customized marketing strategy, transaction structuring, investor due diligence, negotiating key terms of the financing through to transaction completion.
The Company intends to use the proceeds for general working capital purposes in anticipation of expected sales over the next few years. Bob Plaschke, CEO of Sonim, said: “ARC Associates delivers a range of products and services ideally suited to growth company needs from advisory, capital raising and equity investments through to business development. ARC structured and executed the convertible bond issue which will strengthen Sonim’s capital base as we execute our aggressive growth strategy.”
ARC Associates is a specialist investment bank and advisory firm serving the Telecommunications, Alternative Energy Technologies, Property, Information Technology, Media, Financial Services and other selected sectors.
Contacts:
John Allen
ARC Associates
Ph: +44 20 7614 4007
Pa-jaa@arcassociates.com
Bob Plaschke
Sonim Technologies
Ph: + 1 650-303-0520
Bob.Plaschke@sonimtech.com