DNA X Completes $15M Platform Purchase, Divests Mobile Assets
DNA X completed its $15 million acquisition of the DNA X cryptocurrency trading platform in December 2025, paying $13.5 million upfront and $1.5 million deferred alongside launching the DNA X.us site. In January 2026, the company sold its mobile device business for debt repayment, rebranded, and appointed an acting CEO.
1. Acquisition of DNA X Trading Platform
In December 2025, the company acquired the DNA X cryptocurrency trading platform for $15 million less working capital adjustments, paying $13.5 million upfront and $1.5 million deferred. The acquisition launched the DNA X.us website and positions the firm for automated crypto-pair trading.
2. Divestiture of Mobile Device Business
On January 23, 2026, the company sold its mobile device design and manufacturing business to NEXA Mobility, generating proceeds used to repay debt and support the trading platform. This divestiture exited geo-political risk and freed resources for strategic focus.
3. Rebranding and Leadership Changes
The company rebranded as DNA X, Inc. on January 23, 2026, retaining the SONM ticker. On January 30, 2026, the CEO resigned, the Executive Chairman became acting CEO, and Scott Walker joined the board bringing crypto trading expertise.
4. Financial Results and 2026 Outlook
Fourth-quarter continuing operations reported zero revenue, $1.2 million in G&A expenses, and ended with $1.3 million cash. Management forecasts revenue growth and margin expansion as the platform exits testing and adds more cryptocurrency pairs.