Sonim Technologies (SONM) said Thursday that it has received an unsolicited, non-binding offer from Orbic North America to acquire all of its outstanding shares for $4 each in cash.
The company said it is reviewing the proposal while it consults with its legal and financial advisors.
"We appreciate Orbic's offer and continued interest in Sonim, and we will carefully evaluate the unsolicited proposal in light of all feasible options, working diligently to ensure the best outcome for our investors," Mike Mulica, chair of a Sonim special committee that is reviewing the offer, said.
Shares of Sonim Technologies were down 1.3% in recent premarket activity.
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