Promising restart: Sono Motors signs investor deal for its solar integration business, on its path to finalizing restructuring

November 27, 2023

https://www.globenewswire.com/news-release/2023/11/27/2786256/0/en/Promising-restart-Sono-Motors-signs-investor-deal-for-its-solar-integration-business-on-its-path-to-finalizing-restructuring.html

MÜNCHEN, Germany, Nov. 27, 2023 (GLOBE NEWSWIRE) — Sono Motors, the Munich-based solar technology company, today announces the signing of investment agreements with YA II PN, Ltd. (“Yorkville”), which are expected to enable the company to restructure itself, emerge from its self-administration proceedings that have been ongoing since May 2023 and continue its solar integration business. Subject to the fulfillment of certain conditions precedent, this deal positions Sono Motors to obtain sufficient financing for its business operations until at least the end of 2024. Closing of the investment with Yorkville and conclusion of the insolvency proceeding are currently expected in late January 2024.

Read more at globenewswire.com

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