The stock exchange day: German solar car startup wants to fetch 172 million in New York

Wednesday 17th November 2021

The stock market day
German solar car startup wants to raise 172 million in New York

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Compared to the multi-billion dollar electrical pioneers Tesla & Co., Sono Motors is of course still a small fish. But what is not, can still become. Now the Munich solar car company has set the placement price for its shares in the middle of the price range. As the Sono Group announced, the price is 15 US dollars per share. The range was $ 14-16. If the over-allotment option were exercised in full, Sono would have proceeds of $ 172.5 million.

The initial listing is on Wednesday, the US technology exchange Nasdaq under the symbol “SEV”. Sono places 10 million common shares. In addition, the syndicate banks will be given a 30-day option to purchase up to 1.5 million additional ordinary shares.

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