Sono Motors IPO: Sono Motors SEV Stock Price, Quote, History, News
To mark its debut on the Nasdaq, Sono Group N.V. (NASDAQ: SEV), the company that aims to reshape the future of solar-powered transportation with its “Sono Motors GmbH,” or “Company,” celebrates its first day of trading on the Nasdaq Global Market today.
Sono Motors, a pioneer and technology leader in the field of solar-powered electric mobility, is dedicated to making solar a standard feature on every vehicle it manufactures. In an effort to cut carbon emissions and make clean and inexpensive transportation more accessible, the company is monetizing its unique solar technology for use in a variety of vehicles, such as buses, trucks, camper vans, and even trains. Aiming to combine cutting-edge solar technology with a low price point, the Sion SEV intends to empower individuals to make a positive impact on the world’s sustainability.
On Friday, Rivian Automotive was unveiled, and Sonos will be reaping the benefits. The electric vehicle manufacturer raised $11.9 billion in its IPO, making it the largest since 2014. Rivian’s IPO price of $78 on Nov. 10 saw an increase of almost 29% in share price. In the last few months, the stock has nearly doubled, trading at $144.35
Sion, a solar-powered electric automobile, has been designed by Sono and can be recharged using panels on its exterior. As of Nov. 5, Sono had received more than 16,000 bookings for the vehicle. The Munich, Germany-based company raised $150 million by selling 10 million shares at $15 each, the middle of its $14 to $16 price range.
There were also strong gains for Braze (BRZE) on Wednesday, which provided the largest deal. There was a $28.39 increase in the stock’s value from its initial price of $87.20.
The Sono Motors management team will ring the Nasdaq Opening Bell on Thursday, November 18, 2021, to honour the Company’s listing.
The proposed offering is being handled solely by Berenberg. There will be a joint offering manager in place for the planned offering.
UserTesting had planned to sell 14.2 million shares for $15 to $17, but only sold 10 million shares at $14 each. In order to better understand how customers engage with their products, UserTesting produces self-guided movies.
The sole IPO on Wednesday that dropped below its IPO price, Iris Energy (IREN), is technically a broken deal. At the close of trading, Iris shares were down roughly 13% from their opening price of $28. Over the $25 to $27 price range, the Australian company sold 8.3 million shares at $28 a share.
Since the beginning of 2019, the company has been mining Bitcoin. The prospectus for its IPO stated that it had no Bitcoin on its balance sheet as of September 30.