Why Did Sonim Technologies Inc. Soar 119% On Acquisition Offer?

On June 17, 2025, Sonim Technologies experienced a significant drop of 11.9% in pre-market trading, marking a notable shift in investor sentiment.

Sonim Technologies has recently received an unsolicited acquisition proposal from DOOGEE, which includes a buyout offer valuing each share at $3.60. This proposal has sparked considerable interest and speculation among investors, contributing to the recent volatility in the company's stock price.

The Special Committee of Sonim Technologies is actively working to advance the current Letter of Intent (LOI) toward a definitive agreement and reverse takeover, aiming to maximize value for the company's stockholders. This strategic move is part of the company's efforts to navigate the acquisition process and ensure the best possible outcome for its shareholders.

Shares of Sonim Technologies Inc. more than doubled on Monday morning to nearly $1.9, following the confirmation of the unsolicited acquisition offer. This surge in stock price reflects the market's positive response to the potential acquisition and the perceived value it brings to the company.