Sonim Shareholders Approve Major Legacy Business Divestiture
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Sonim Technologies' shareholders have approved the sale of its enterprise 5G solutions "Legacy Business" assets to Pace Car Acquisition LLC. This includes rugged devices, software, and services. The approval also included advisory support for executive compensation related to the sale. Analysts currently rate SONM stock as a Hold with a $3.00 price target, citing weak financial health and bearish technicals, although Nasdaq compliance regain is a positive factor. Sonim focuses on durable mobile communications equipment for mission-critical applications.
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