DNA X, Inc. (SONM): debt financing — Sonim issues $2.755M secured note to Streeterville Capital; net proceeds $2.5M

DNA X, Inc.

Note carries 9% annual interest, matures 18 months from July 11, 2025; OID of $225K and $30K transaction fees.
Prepayment: optional at 110% of principal; mandatory prepayment of 33% of any future financing proceeds capped at outstanding balance.
Note secured by first-priority lien on all assets including intellectual property; restrictive covenants on debt and equity issuances.
As of July 11, 2025, Sonim had 17,738,905 shares of common stock outstanding.
Placement agent Ascendiant Capital Markets received $150K fee (6% of gross proceeds).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

DNA X, Inc. incurred senior notes of $2,755,000 with Streeterville Capital, LLC at nine percent (9%) per annum maturing eighteen (18) months following the date of issuance.

Instrument: senior notes
Principal: $2,755,000
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 July 11, 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 $2,755,000 (the “Note”).

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DNA X, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-020061

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