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Sonder Strengthens Balance Sheet With ~$18M Equity Financing, Amended Note Agreement Reducing Debt And Interest, Secures $7.5M From Marriott, Eyes Full Integration With Marriott's Digital Channels By Q2 2025, and Implements ~$50M In Annualized Cost Reductions
Benzinga·04/14/2025 13:07:48
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~$18 Million Equity Financing and Amended Note and Warrant Purchase Agreement Strengthen Balance Sheet
Full Integration with Marriott's Digital Channels and Platform Anticipated by the End of the Second Quarter of 2025
Implementing ~$50 Million of Annualized Cost Reductions
Sonder Holdings Inc. (NASDAQ:SOND) ("Sonder" or the "Company") today announced a series of actions intended to strengthen its balance sheet and generate significant cost savings, and provided an update on its integration with Marriott International, Inc. (NASDAQ:MAR) ("Marriott"):
- Sale of approximately $18 million shares of its Series A preferred stock on April 11, 2025;
- Amendments to the existing Note and Warrant Purchase Agreement, which include a reduction of the outstanding principal balance by 15% and an approximate 50% reduction of the interest rate;
- Full integration with Marriott's digital channels and platform anticipated by the end of second quarter of 2025;
- Receipt of $7.5 million in previously announced key money from Marriott on April 11, 2025; and
- Implementation of approximately $50 million of annualized cost reductions enabled by the Marriott integration.
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① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.
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