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Rugged phone maker Sonim Technologies prices IPO below the range at $11

May 10, 2019
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Sonim Technologies, which makes rugged mobile phones and accessories for industrial and public workers, raised $39 million by offering 3.6 million shares at $11, below the range of $13 to $15.

Sonim Technologies plans to list on the Nasdaq under the symbol SONM. Oppenheimer & Co. and Lake Street Capital Markets acted as lead managers on the deal.