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Sono Group N.V. (NASDAQ:SEV) announced Monday that it has entered into a sixth Omnibus Amendment to its transaction agreements with YA II PN, Ltd. (“Yorkville”), extending the maturity dates for four previously issued convertible debentures. The amendment, effective as of June 30, extends the maturity date from July 1, 2025, to August 1, 2025, for the following debentures:
- Convertible Debenture issued December 7, 2022, with an original principal amount of $11.1 million.
- Convertible Debenture issued December 8, 2022, with an original principal amount of $10.0 million.
- Convertible Debenture issued December 20, 2022, with an original principal amount of $10.0 million.
- Convertible Debenture issued February 5, 2024, with an original principal amount of $4,317,600.
The amendment also extends the termination dates of both the Securities Purchase Agreement and the Exchange Agreement between Sono Group and Yorkville to August 1, 2025.
These agreements, originally established on December 30, 2024, included the sale and issuance of a new $5 million convertible debenture and an exchange of preferred stock for the surrender and cancellation of all debentures held by Yorkville. The parties have previously amended the terms of these agreements on five separate occasions.
Sono Group stated in the SEC filing that the amendments are subject to certain conditions, including the company’s receipt of notice from Nasdaq confirming that all requirements for listing its ordinary shares on the Nasdaq Capital Market have been met.
This information is based on a statement from the company’s Form 8-K filing with the Securities and Exchange Commission.
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