<SEC-DOCUMENT>0001193125-19-106710.txt : 20190607
<SEC-HEADER>0001193125-19-106710.hdr.sgml : 20190607
<ACCEPTANCE-DATETIME>20190415171332
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-19-106710
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20190415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SONIM TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001178697
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE & TELEGRAPH APPARATUS [3661]
		IRS NUMBER:				943336783
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1875 SOUTH GRANT STREET
		STREET 2:		SUITE 750
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94402
		BUSINESS PHONE:		650-378-8100

	MAIL ADDRESS:	
		STREET 1:		1875 SOUTH GRANT STREET
		STREET 2:		SUITE 750
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94402
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<TITLE>Response Letter</TITLE>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;15, 2019 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United
States Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington D.C., 20549 </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left">Attn:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Joshua Shainess </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Celeste M. Murphy </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Kathryn Jacobson </P></TD></TR></TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Lisa Etheredge </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Sonim Technologies, Inc. </B></P></TD></TR></TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Amendment No.&nbsp;1 to </B></P></TD></TR></TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </B></P></TD></TR></TABLE>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Submitted April&nbsp;3, 2019 </B></P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>CIK No.&nbsp;0001178697 </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Sonim Technologies, Inc.
(the &#147;<B><I>Company</I></B>&#148;), we are providing this response letter in response to the comments (the &#147;<B><I>Comments</I></B>&#148;) received from the staff of the U.S. Securities and Exchange Commission&#146;s Division of Corporation
Finance (the &#147;<B><I>Staff</I></B>&#148;) contained in its letter, dated April&nbsp;9, 2019 (the &#147;<B><I>Comment Letter</I></B>&#148;), relating to the Company&#146;s Amendment No.&nbsp;1 to its Draft Registration Statement on Form <FONT
STYLE="white-space:nowrap">S-1,</FONT> as confidentially submitted to the Staff on April&nbsp;3, 2019 (the &#147;<B><I>Draft Registration Statement</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company is concurrently filing the Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (the &#147;<B><I>Registration
Statement</I></B>&#148;), which reflects changes made in response to the Comments contained in the Comment Letter and certain other changes. We are also sending the Staff a copy of this response letter, along with copies of the Registration
Statement marked to show all changes made to the Draft Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The numbering of the paragraphs below corresponds to the numbering of the
Comments contained in the Comment Letter, which for your convenience we have incorporated into this response letter in italics. Page references in the text of this response letter correspond to the page numbers of the Registration Statement.
Capitalized terms used in this response letter but not otherwise defined in this response letter shall have the meanings set forth in the Registration Statement. </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April 15, 2019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Two </P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Amendment No.&nbsp;1 to Draft Registration Statement on Form <FONT
STYLE="white-space:nowrap">S-1</FONT> </U></I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Risk Factors </U></I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Risks Related to this Offering and Our Common Stock </U></I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Our amended and restated certificate of incorporation will designate the Court of Chancery of the State of Delaware as the sole..., page 35 </U></I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>1.&nbsp;&nbsp;&nbsp;&nbsp;We note your response to comment 8 and your disclosure on page 103 that your amended and restated certificate of incorporation
will provide that the federal district courts of the United States of America will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act. Please bifurcate your risk factor disclosure as to
the two choice of forum provisions and discuss the risks of each and questions of enforceability separately. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the
Staff that it has revised the disclosure on pages 35 and 36 of the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Management&#146;s Discussion and Analysis of Financial
Condition and Results of Operations </U></I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Results of Operations </U></I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Years Ended December&nbsp;31, 2017 and 2018, page 54 </U></I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>2.&nbsp;&nbsp;&nbsp;&nbsp;Please disclose the extent to which your 129.8% revenue growth was attributable to AT&amp;T&#146;s FirstNet contract, which was
referenced elsewhere in your filing. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that it has revised the disclosure on page 55 of the Registration
Statement to disclose the extent to which the Company&#146;s 129.8% revenue growth was attributable to AT&amp;T. The Company respectfully notes that the Company transacts directly with AT&amp;T and its designated affiliates but does not transact
with FirstNet, which is operated and managed by AT&amp;T. AT&amp;T began sales of mobile phones to public safety end customers in March 2018. The Company does not receive any data from AT&amp;T or FirstNet related to end customers, including any
information related to quantity of the Company&#146;s mobile phones that are sold by AT&amp;T to its FirstNet public safety end customers versus other customers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Liquidity and Capital Resources, page 55 </U></I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>3.&nbsp;&nbsp;&nbsp;&nbsp;Considering that your borrowings per the Statement of Cash Flows as of December&nbsp;31, 2018 are materially different than the <FONT
STYLE="white-space:nowrap">period-end</FONT> amounts recorded in your Balance Sheet, please provide additional narrative regarding intra-period variations in your borrowings to facilitate investor understanding of your liquidity position. Please
refer to Section II.A of the Commission Guidance on Presentation of Liquidity and Capital Resources Disclosures in Management&#146;s Discussion and Analysis (September, 2010) at
<U><FONT STYLE="white-space:nowrap">https://www.sec.gov/rules/interp/2010/33-9144fr.pdf</FONT></U>. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that
it has revised the disclosure on page 59 of the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Note 1 &#150; The Company and its Significant Accounting Policies Revenue
Recognition , page <FONT STYLE="white-space:nowrap">F-9</FONT> </U></I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>4.&nbsp;&nbsp;&nbsp;&nbsp;We note your response to comment 18 and your revised
disclosures throughout the filing. For design, certification and approval activities that do not involve significant customization, please revise to clarify if these costs are reimbursable and if you consider them to be <FONT
STYLE="white-space:nowrap">pre-production</FONT> expenses related to a long-term supply agreement. Please separately address costs incurred before and after receipt of a product award letter. Refer to ASC <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">340-10-25-1.</FONT></FONT></FONT> </I></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


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 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April 15, 2019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Three
</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that it has revised the significant
policy disclosures of Property and Equipment and Revenue Recognition on page <FONT STYLE="white-space:nowrap">F-9</FONT> of the Registration Statement. The Company respectfully notes that, as disclosed on page
<FONT STYLE="white-space:nowrap">F-9</FONT> of the Registration Statement, the Company does not charge separately for design, certification and approval activities that do not involve significant customization. As a result, the Company notes that
there is no reimbursement of such costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Note 4 &#150; Borrowings, page <FONT STYLE="white-space:nowrap">F-22</FONT> </U></I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>5.&nbsp;&nbsp;&nbsp;&nbsp;We note that some of your financial covenants were temporarily suspended and/or changed during 2018. Please revise to clarify if
you continue to have a positive EBITDA covenant as of December&nbsp;31, 2018 and beyond. If so, please disclose the covenant requirements. If not, please revise to disclose that it has been temporarily suspended, waived or otherwise is not required.
Please also disclose if you were in compliance with all applicable financial covenants as of December&nbsp;31, 2018. Similarly revise your MD&amp;A liquidity disclosures beginning on page 55. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that it has revised the disclosure on pages 56 and <FONT STYLE="white-space:nowrap">F-23</FONT> of the Registration
Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company respectfully requests the Staff&#146;s assistance in completing the review of this response letter. Please contact me at (650) <FONT
STYLE="white-space:nowrap">843-5055</FONT> with any questions regarding the Company&#146;s responses to the Staff&#146;s Comments or if you require further information. Thank you in advance for your attention to this matter. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>/s/ Jon Gavenman </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jon E. Gavenman </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="6%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Robert Plaschke, Sonim Technologies, Inc. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">James Walker, Sonim Technologies, Inc. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael Tenta, Cooley LLP </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Marina Remennik, Cooley LLP </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Richard Kline, Goodwin Procter LLP </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Heidi Mayon, Goodwin Procter LLP </P></TD></TR></TABLE>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
