Sono Motors Announces Follow-on Offering – Sono Motors

Munich, Germany – Sono Group N.V. (Nasdaq: SEV; “Sono Motors” or the “Company”) announced today the launch of a proposed follow-on offering of 10,000,000 ordinary shares, all of which are being offered by the Company. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering. Sono Motors intends to use the net proceeds from this proposed offering to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion. Berenberg, Cantor Fitzgerald, and B. Riley Securities are acting as book-running managers for this proposed offering. Craig-Hallum and Wedbush Securities are acting as co-managers for this proposed offering.