Sono Group NV has announced the issuance of a convertible debenture with a principal amount of $600,000 to YA II PN, Ltd. (Yorkville) in a private placement. The transaction was completed without registration under the Securities Act of 1933, relying on applicable exemptions. The debenture, which matures on January 26, 2027, carries an annual interest rate of 12%, increasing to 18% in the event of default. Yorkville has the right to convert the debenture into Ordinary Shares of Sono Group NV at the lower of $18.75 per share or 85% of the lowest daily volume weighted average price over the preceding seven trading days, subject to a floor price. Net proceeds from the transaction amounted to $600,000.
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