Sonim Technologies (SONM) Plans to Raise $50 Million in May 10th IPO

Sonim Technologies (SONM) expects to raise $50 million in an initial public offering on Friday, May 10th, IPO Scoop reports. The company will issue 3,600,000 shares at $13.00-$15.00 per share.

In the last 12 months, Sonim Technologies generated $135.7 million in revenue and had a net loss of $8.9 million. The company has a market-cap of $273.1 million.

Oppenheimer and Lake Street acted as the underwriters for the IPO and National Securities Corporation was co-manager.

Sonim Technologies provided the following description of their company for its IPO: ”  We are a leading U.S. provider of ultra-rugged mobile phones and accessories designed specifically for task workers physically engaged in their work environments, often in mission-critical roles. We currently sell our ruggedized mobile phones and accessories to three of the four largest wireless carriers in the United States—AT&T, Sprint and Verizon—as well as the three largest wireless carriers in Canada—Bell, Rogers and Telus Mobility. Our phones and accessories connect workers with voice, data and workflow applications in two end markets: industrial enterprise and public sector. “.

Sonim Technologies was founded in 1999 and has 321 employees. The company is located at 1875 South Grant Street, Suite 750, San Mateo, CA 94402, US and can be reached via phone at (650) 378-8100 or on the web at http://www.sonimtech.com.

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