Sono Group N.V. (NASDAQ: SEV) (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) announced today the closing of its initial public offering of an aggregate of 11,500,000 common shares at a price to the public of $15.00 per share, including the full exercise by the underwriters of their option to purchase up to 1,500,000 additional common shares. The net proceeds from the offering to the Company, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, were approximately $156.1 million.
The common shares began trading on the Nasdaq Global Market under the symbol "SEV" on November 17, 2021.
Berenberg acted as sole global coordinator for the proposed offering. Craig-Hallum acted as co-manager for the proposed offering.
A registration statement on Form F-1 relating to these securities was previously filed with the SEC (File Number: 333-260432) and declared effective by the SEC on November 16, 2021. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. This offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering 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 prospectusrequests@berenberg-us.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any 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 registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target" 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. 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 N.V. (OTCQB: SEVCF) is on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. Sono Motors’ disruptive solar technology has been engineered to be seamlessly integrated into a variety of vehicle architectures — including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles — to extend range and reduce fuel costs as well as the impact of CO2 emissions, paving the way for climate-friendly mobility.