Sonim Technologies, which akes rugged mobile phones and accessories for industrial and public workers, announced terms for its IPO on Monday.
The San Mateo, CA-based company plans to raise $50 million by offering 3.6 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Sonim Technologies would command a fully diluted market value of $294 million.
Sonim Technologies was founded in 1999 and booked $136 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SONM. Oppenheimer & Co. and Lake Street are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.
