Sono Group (SEV) Prices 10M Share Follow-on Offering at $4/sh

Sono Group N.V. (Nasdaq: SEV) announced today the pricing of its follow-on offering of 10,000,000 ordinary shares at a price to the public of $4.00 per share. In addition, Sono Motors has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 ordinary shares at the public offering price less underwriting discounts. The offering is expected to close on May 3, 2022, subject to customary closing conditions.

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

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

A registration statement on Form F-1 relating to the shares being sold in this offering has been filed with the SEC and was declared effective on April 28, 2022. This offering is being 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 prospectus 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 being issued pursuant to Rule 134 under the Securities Act of 1933 and 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.

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• B. Riley Financial (RILY) Files 10-K
• Trump Media & Technology Group (DJT) Provides Additional Information to DJT Investors on Short Selling