Sonim Technologies IPO at USD 11 per share

Source: The Critical Communications Review | Gert Jan Wolf editor

Sonim Technologies (Nasdaq: SONM), 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.

Picture: Courtesey of Sonim