Sonim enters up to $500M equity facility with Chardan Capital Markets

DNA X, Inc.

Sonim may sell up to $500M in common stock to Chardan over 36 months at VWAP minus 3.5% discount.
Exchange cap of 2,066,747 shares (19.99% outstanding) unless shareholder approval or price condition met.
Minimum 33% of proceeds must prepay $2.755M note to Streeterville Capital, LLC issued July 11, 2025.
No restrictions on future financings; Chardan prohibits short sales and hedging.
Company can terminate with 10 trading days notice; Chardan terminates on customary events.

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