Sono Group signs LOI to combine with Sports One; investor group buys 19.9% stake

Sono Group N.V.

• Non-binding LOI: Sports One equity holders to own super-majority of combined company expected renamed Sports One.
• Concurrent registered direct offering: 283,500 ordinary shares (19.9% of outstanding) at market, no discount, no warrants, 180-day lock-up.
• Sports One holds minority interests in NFL, NBA, MLB, NHL franchises plus sports intelligence (athlete value) business.
• Sports One management to lead: Paul Misir (Chairman), Chris Kelly (CEO, co-owner Sacramento Kings), Reince Priebus, Michael Spanos II.
• YA II PN call option: Sports One affiliates can acquire ~half of 700 preferred shares after closing; 180-day lock-up on new shares.