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.
