Sono Group Announces $150 Million Committed Equity Facility
13 Junho 2022 - 6:40PM
Sono Group N.V. (hereafter referred to as “Sono Motors” or the
“Company”) (NASDAQ: SEV), the company that aims to revolutionize
the future of solar-powered transport, today announced it has
entered into a common shares purchase agreement with Joh.
Berenberg, Gossler & Co. KG (“Berenberg“).
The agreement governs a Committed Equity Facility that provides
Sono Motors with the right, without obligation, to sell and issue
up to $150 million of its ordinary shares over a period of 24
months to Berenberg at the sole discretion of Sono Motors, subject
to certain limitations and conditions.
“This new source of funding provides us with the flexibility to
raise additional equity funding when and if we choose to do so,”
states Laurin Hahn, CEO and co-founder of Sono Motors.
This press release is for informational purposes only and it
does not represent an offer to sell or the solicitation of an offer
to buy any of the Company’s shares. There will be no sale of shares
in any jurisdiction in which one would be unlawful.
ABOUT SONO MOTORS
Sono Motors is on a pioneering mission to accelerate the
revolution of mobility by making every vehicle solar. Its
disruptive solar technology has been developed to enable seamless
integration into all types of vehicles to reduce the impact of CO2
emissions and pave the way for climate-friendly mobility.
Sono Motors is developing the world’s first solar electric
vehicle (SEV) for the masses, the Sion. Empowered by a strong
community, Sono Motors has amassed more than 18,000 reservations
with advance payments for the Sion. These vehicles will be produced
through contract manufacturing.
Sono Motors' proprietary solar technology has been engineered to
enable integration and licensing for a wide range of vehicle
architectures that go far beyond the Sion, such as buses, trailers,
trucks, camper vans, trains, and boats.
PRESS CONTACT Christian Scheckenbach | Mobile:
+49(0)17618050132E-Mail: press@sonomotors.com |
Website: www.sonomotors.com/press
FORWARD-LOOKING STATEMENTSThis press release
includes forward-looking statements. The words "expect",
"anticipate", "intends", "plan", "estimate", "aim", "forecast",
"project", "target", “will” and similar expressions (or their
negative) identify certain of these forward-looking statements.
These forward-looking statements are statements regarding the
Company's intentions, beliefs, or current expectations.
Forward-looking statements involve inherent known and unknown
risks, uncertainties, and contingencies because they relate to
events and depend on circumstances that may or may not occur in the
future and may cause the actual results, performance, or
achievements of the Company to be materially different from those
expressed or implied by such forward looking statements. These
risks, uncertainties and assumptions include, but are not limited
to (i) the impact of the global COVID-19 pandemic on the global
economy, our industry and markets as well as our business, (ii)
risks related to our limited operating history, the rollout of our
business and the timing of expected business milestones including
our ability to complete the engineering of our vehicles and start
of production on time and budget and risks related to future
results of operation, (iii) risks related to our unproven ability
to develop and produce vehicles and with expected or advertised
specifications including range, and risks relating to required
funding, (iv) risks related to our ability to monetize our solar
technology, (v) risks relating to the uncertainty of the projected
financial information with respect to our business including the
conversion of reservations into binding orders, (vi) effects of
competition and the pace and depth of electric vehicle adoption
generally and our vehicles in particular on our future business and
(vii) changes in regulatory requirements, governmental incentives
and fuel and energy prices. For additional information concerning
some of the risks, uncertainties and assumptions that could affect
our forward-looking statements, please refer to the Company’s
filings with the U.S. Securities and Exchange Commission (“SEC”),
which are accessible on the SEC’s website at www.sec.gov and on our
website at ir.sonomotors.com. Many of these risks and uncertainties
relate to factors that are beyond the Company's ability to control
or estimate precisely, such as the actions of regulators and other
factors. Readers should therefore not place undue reliance on these
statements, particularly not in connection with any contract or
investment decision. Except as required by law, the company assumes
no obligation to update any such forward-looking statements.
Sono Group NV (NASDAQ:SEV)
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