DNA X, Inc. (SONM): debt financing — Sonim issues $3.3M promissory note to Streeterville Capital, net proceeds $3M

DNA X, Inc.

Note principal $3.3M; $270K OID and $30K transaction costs deducted; net proceeds $3M.
Interest 9% per annum; maturity 18 months; 110% prepayment penalty on partial prepayments.
Lender may redeem up to $330K/month starting 6 months; company can defer with 1% fee.
Covenants restrict other debt/convertible issuances without lender consent; includes MFN clause.
Ascendiant Capital received $180K (6% of gross) as placement agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DNA X, Inc. incurred loan of $3,300,000 with Streeterville Capital, LLC at nine percent (9%) per annum maturing eighteen (18) months following the date of issuance.

Instrument: loan
Principal: $3,300,000
Counterparty: Streeterville Capital, LLC
Rate: nine percent (9%) per annum
Maturity: eighteen (18) months following the date of issuance
Event: incurrence

Exact text from the filing

On February 21, 2025, Sonim Technologies, Inc. (the “Company”) entered into a note purchase agreement (the “Purchase Agreement”) with Streeterville Capital, LLC (the “Lender”) pursuant to which the Company issued and sold to the Lender a promissory note in the original principal amount of $3,300,000 (the “Note”).

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DNA X, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-007911

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