Prepares Registration Document for Anticipated Initial Public Share Sale
Sono Group N.V., a pioneering company in solar mobility, has announced its intention to list its common shares on the Nasdaq Global Market under the ticker symbol "SEV". The move comes as the company seeks to accelerate the revolution of mobility by making every vehicle solar.
The company, currently trading on the OTCQB under the symbol SEVCF, underwent a 1-for-75 reverse stock split effective January 3, 2025, in preparation for the Nasdaq listing.
While the specific details of the Initial Public Offering (IPO) such as share price, total amount raised, or underwriters have not been disclosed, Sono Group N.V. has been actively working towards uplisting to the Nasdaq Capital Market. The company has agreements in place with financial parties like YA II PN, Ltd. (Yorkville) involving securities purchase and exchange agreements aimed at securing additional funding to develop and commercialize its solar technology.
Investors are invited to participate in online presentations, including one at the Small Cap Virtual Investor Conference on June 26, 2025, indicating ongoing investor engagement efforts in connection with its capital markets activities.
Sono Group N.V.'s disruptive solar technology is engineered to be seamlessly integrated into a variety of vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles. The company may determine not to conduct a registered IPO in the time frame it currently expects or at all, due to various potential factors.
The registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. Copies of the preliminary prospectus may be obtained from Berenberg Capital Markets LLC. It is important to note that these securities may not be sold or offers to buy accepted before the registration statement becomes effective.
The press release may include forward-looking statements about the company's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which the company operates. These statements involve inherent risks, uncertainties, and contingencies that may cause actual results to differ materially from those expressed or implied by such statements.
The offering is subject to market conditions, and there is no assurance it will be completed. Berenberg is acting as the global coordinator for the proposed offering, and Craig-Hallum will act as co-manager.
This press release is neither an offer to sell nor the solicitation of an offer to buy these securities. Interested parties are advised to consult their financial advisors for further information.
- In an effort to garner more capital for the development and commercialization of its solar technology, Sono Group N.V. has entered into securities purchase and exchange agreements with financial parties like YA II PN, Ltd. (Yorkville), indicating that the company is actively involved in investing and business activities.
- The company's intention to list its common shares on the Nasdaq Global Market signifies that Sono Group N.V. is planning to expand its finance activities, seeking to raise funds from investors in the stock market and positioning itself for broader business opportunities.
