Motorola and JVC Kenwood-backed rugged electronics producer has floated below its range in a $39.6m offering, having previously raised some $117m in financing.
Sonim Technologies, the US-based rugged mobile phone maker backed by communications equipment supplier Motorola Solutions and electronics producer JVC Kenwood, has raised $39.6m in its initial public offering.
The company priced more than 3.6 million shares at $11 each on the Nasdaq Global Market, below the IPO’s range of $13 to $15, valuing it at about $220m. It floated on Friday and its shares have held steady, closing at $11.03 yesterday.
Sonim provides ultra-rugged mobile devices, industrial-grade accessories…
