What's Going On With Sonder Shares Today: What's Going On?

Sonder Holdings Inc. (NASDAQ:SOND) are trading higher Monday after the company announced a set of financial and strategic actions aimed at improving its balance sheet and operational efficiency.

What To Know: The company disclosed an $18 million equity financing through the sale of Series A preferred stock, along with amendments to its existing Note and Warrant Purchase Agreement that reduce both principal and interest obligations. These steps are part of a broader plan to stabilize Sonder's financial position.

In addition to the capital raise, Sonder confirmed it received $7.5 million in previously announced key money from Marriott International and is on track to fully integrate its platform with Marriott's digital ecosystem by the end of second-quarter 2025. This integration will make all Sonder properties accessible on Marriott's booking platforms and provide access to Marriott's global sales network and its Bonvoy loyalty program, which has nearly 228 million members.

Sonder plans to implement roughly $50 million in annualized cost reductions, driven by workforce cuts, software savings, and operational efficiencies tied to the Marriott integration. The company says these changes mark a significant step in its transformation strategy, aimed at increasing profitability and long-term sustainability.

SOND Price Action: Sonder shares were up 23.1% at $2.77 at the time of writing, according to Benzinga Pro.

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