Sonim Technologies, Inc. has announced the signing of a non-binding Letter of Intent for a proposed reverse takeover with a private US-based company specializing in Nvidia-based High-Performance Computing $(HPC.AU)$ A.I. factories. The strategic business combination would result in stockholders of the HPC A.I. factory Target owning a majority stake in the combined company. The transaction aims to position Sonim for growth in the AI and digital transformation space by leveraging the Target's expertise in High-Performance Computing as a Service. The combined company is expected to adopt a new corporate name and ticker symbol while maintaining its Nasdaq listing. Sonim stockholders will retain equity valued at $17.5 million in the new entity. This move is part of Sonim's strategic evolution following the sale of its operating assets, seeking to maximize stockholder value.
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