other_material
confidence high
sentiment neutral
materiality 0.65
Sono Group files pro forma financials for Nasdaq listing; $5M Yorkville debenture conversion to preferred shares
Sono Group N.V.
- Provided pro forma balance sheet and income statement for Nasdaq listing application; approval not yet received.
- New $5.0M secured convertible debenture from Yorkville; $2.5M subject to Nasdaq approval.
- All existing convertible debentures (€37.8M) to be exchanged for 1,242 preferred shares (€300 nominal each).
- Pro forma net equity of €4.31M ($4.66M) and cash of €3.65M after recapitalization.
- Reverse stock split of 75:1 anticipated in connection with the listing.
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