Sono Group (SEV) Announces 10M Share Follow-on Offering

Sono Group N.V. (Nasdaq: SEV) announced today the launch of a proposed follow-on offering of 10,000,000 ordinary shares, all of which are being offered by the Company. In addition, Sono Motors expects to grant the underwriters an option, to purchase up to an additional 1,500,000 ordinary shares. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Sono Motors intends to use the net proceeds from this proposed offering to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion.

Berenberg, Cantor Fitzgerald, and B. Riley Securities are acting as book-running managers for this proposed offering. Craig-Hallum and Wedbush Securities are acting as co-managers for this proposed offering.

A registration statement on Form F-1 relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This offering will be made only by means of a prospectus which, for the avoidance of doubt, will not constitute a “prospectus” for the purposes of the Regulation (EU) 2017/1129 (the Prospectus Regulation) and has not been reviewed by any competent authority in any member state in the European Economic Area. Copies of the preliminary prospectus, when available, may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at [email protected], Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, New York, NY 10022, or by email at [email protected], and B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, or by telephone at +1 703 312 9580, or by email at [email protected].

This press release is neither an offer to sell nor a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

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