German Solar Electric Vehicle Disruptor Sono Group IPO Debut

Germany-based Sono Group NV $SEV raised $150 million at a $1.1 billion market cap. The company is developing what it believes is disruptive solar technology, as well as a solar and battery powered vehicle. Sono Motors is developing the solar electric vehicle (SEV) for the masses, the Sion. It has reached more than 16,000 reservations with advance payments for the Sion, the solar electric vehicle (SEV) for the masses,

German disruptive solar technology company Sono Group (SEV)

Sono Group N.V. (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) announced the pricing of its initial public offering of 10,000,000 common shares at a price to the public of $15.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares at the initial public offering price.

Berenberg is acting as sole global coordinator for the proposed offering. Craig-Hallum is acting as co-manager for the proposed offering.

The company common shares began trading on the Nasdaq Global Market on November 17, 2021, under the ticker symbol “SEV.”

SEV Shares Soar On Day One

About Sono Motors

Sono Motors is on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. Its disruptive solar technology has been developed to enable seamless integration into all types of vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility.

Sono Motors is developing the world’s first solar electric vehicle (SEV) for the masses, the Sion. Empowered by a strong community, Sono Motors has amassed more than 16,000 reservations with advance payments for the Sion. These vehicles will be produced through contract manufacturing with customer deliveries expected to begin in the first half of 2023.

The unmatched solar technology is also being licensed to other manufacturers for application in vehicles such as buses, trailers, trucks, camper vans, trains and boats.

IPO Week Ahead

Street research is expected for 11 companies, and lock-up periods will be expiring for up to 11 companies.

 Source: Renaissance Capital SONO

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