Sono Group announces 1:75 reverse split, $5M debenture, $37.2M debt-to-equity conversion, new CFO

Sono Group N.V.

Reverse share split 1:75 effective Jan 6, 2025; shares reduced from 105.7M to 1.4M; trades as SEVCD temporarily.
New $5M convertible debenture to Yorkville at 12% interest, convertible at discount to VWAP, subject to Nasdaq listing.
Exchange agreement converts $37.2M total debt (incl. new debenture) into 1,242 preferred shares convertible to ordinary shares.
Scott Calhoun promoted to CFO from acting Controller; worked with CEO O’Leary for over 20 years.
Both transactions conditioned on Nasdaq listing notice by Jan 15, 2025; Yorkville can terminate if unmet.

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