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SEV - Sono Group stock falls on pricing $10M follow-on share offering
Sevcon Inc.
Sono Group (NASDAQ:SEV) stock tumbled 9.2% premarket Friday on pricing its follow-on offering of 10M shares at $4.00/share. Underwriters over-allotment is an additional 1.5M ordinary shares. Offering is expected to close on May 3, 2022. Net proceeds will be used to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion. Earlier, Sono stock falls postmarket on proposed follow-on share offering.