SEV - Sono Group stock spikes on filing to sell $195M of ordinary shares
- EV firm Sono Group ( NASDAQ: SEV ) has filed to sell up to $195M of ordinary shares, each with a nominal value of €0.06.
- Terms of the offering are yet to be determined.
- Net proceeds from the sale will meet the company's additional funding requirements, which may include capital expenditures, research and development, general working capital, and other general corporate purposes.
- The prospectus also covers the offering for resale, from time to time, in one or more offerings, of up to 30M ordinary shares that can be issued to the selling shareholder upon conversion of the convertible debentures acquired, or to be acquired, by it in a private placement.
- Sono Group ( SEV ) will not receive any proceeds from the sale of any securities offered by the selling shareholder.
- SEV shares are up ~7% premarket
For further details see:
Sono Group stock spikes on filing to sell $195M of ordinary shares