For those of you who saw my post yesterday, it has since been taken down because the auto-mod wrongly flagged it as crypto-related. I've messaged the human mods to review this decision and hopefully it will be reinstated.
In the meantime, because the expected 8k did not drop yesterday as anticipated, I wanted to keep people in the loop.
When I wrote the previous post (and thesis), I assumed the absence of an 8-K by Jan 20 would imply a missed or failed closing given SONM would have had 4 business days to file after Jan 13. Having re-read the proxy statement, under the Asset Purchase Agreement, Jan 13 functioned as an [outside date](https://www.sec.gov/Archives/edgar/data/1178697/000149315225024848/formprem14a.htm), not an automatic expiration.
If neither party exercised its right to terminate, the agreement remains in force without triggering a reportable event. In other words, silence does not imply the deal died or was amended. It more likely means the parties are closing under informal forbearance rather than a formally extended date, which would have required disclosure. This keeps the transaction alive but shifts it into a day-to-day posture. I should have been clearer about that distinction.
So in the absence of a firm date, all we have to go on is Sonm's last press release on the asset sale vote, which said "[The transaction is expected to close in January 2026, subject to customary closing conditions](https://ir.sonimtech.com/news-events/press-releases/detail/278/sonim-technologies-stockholders-approve-asset-sale-to-nexa)". Which leads me to believe the soonest we will get news is Monday/Tuesday next week and 1st week of February at the latest.
Apologies again for the confusion - navigating all this has been a minefield. Given yesterday's volume and the co-ordination of multiple events, an announcement really did seem imminent. That said, I don't think this changes the thesis in any meaningful way.
For those who haven't been following my posts since September on this speculated transaction, you can read a detailed write-up [here](https://thealphacompass.substack.com/p/the-ai-infrastructure-company-hiding).