Sonder Secures New Funding, Amends Marriott Agreement

Sonder Holdings Inc. SOND shares surged on Friday following the company's announcement of a new financing plan aimed at reinforcing its liquidity and supporting future growth.

On August 5, 2025, the company raised $24.54 million through the issuance of units consisting of senior secured promissory notes and warrants to buy common stock at an exercise price of $1.50 per share.

The notes carry a 15% annual interest rate and mature in July 2026. To finalize aspects of the transaction, Sonder will seek shareholder approval on matters related to the warrant issuance.

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Sonder has also secured backing from shareholders holding a majority of voting power to ensure passage of related proposals. In tandem, the company amended its agreement with Marriott International Inc. MAR, converting up to one year's worth of fees into obligations under senior secured notes.

Additionally, Sonder ended its existing Loan and Security Agreement with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, while maintaining access to letters of credit, a move that improves financial agility without expanding debt exposure.

“The additional liquidity is intended to help Sonder execute our strategic plan and position the Company for long-term growth and value creation,” said Janice Sears, Interim CEO.

Sonder's recent earnings highlight ongoing efforts to improve performance and scale operations. To review financial updates from its most recent reporting period, see the full financial results.

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Price Action: SOND shares rose by 8.17% to $2.25 in after-hours trading on Thursday.

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