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…

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