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Sonder Holdings Inc. - SOND STOCK NEWS

Welcome to our dedicated page for Sonder Holdings news (Ticker: SOND), a resource for investors and traders seeking the latest updates and insights on Sonder Holdings stock.

Sonder Holdings Inc. (NASDAQ: SOND) is a trailblazer in the hospitality industry, offering short and long-term accommodations to travelers across North America, Europe, and the Middle East. Founded in 2014, Sonder is revolutionizing the guest experience through technology and design. The company provides a diverse range of accommodation options, from spacious rooms to fully-equipped suites and apartments, in over 40 markets across ten countries and three continents. Each Sonder unit in apartment-style buildings and hotel properties is meticulously selected, designed, and managed directly by the company to ensure a seamless experience for guests.

Core Business and Offerings:

  • Sonder generates revenue by offering short-term or month-to-month accommodations, catering to the needs of a diverse group of travelers.
  • Through the Sonder app, guests have full control over their stay, featuring self-service options, easy check-in, and 24/7 on-the-ground support.

Recent Achievements and Current Projects:

  • As of June 2024, Sonder is actively executing a portfolio optimization program to enhance financial performance, involving exiting or reducing rent for approximately 105 buildings (4,300 units).
  • The company anticipates annualized run-rate free cash flow improvements of over $40 million from these measures.

Financial Condition and Partnerships:

  • Sonder recently announced second-quarter 2023 financial results, showcasing the company's ongoing efforts to strengthen its financial foundation.
  • Despite recent challenges, including delays in filing SEC reports, Sonder is committed to regaining compliance with Nasdaq listing rules and improving its financial health.

Engagement and Outlook: Sonder's innovative approach to hospitality is supported by a robust app that offers unparalleled convenience and control to guests. With a focus on delivering high-quality, design-forward accommodation experiences, Sonder aims to achieve sustainable positive free cash flow and maintain its position as a leader in the hospitality industry. To stay updated, visit www.sonder.com or follow Sonder on social media platforms.

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Sonder Holdings Inc. (NASDAQ: SOND) announces a delay in releasing its fourth quarter and full year 2023 financial results due to accounting errors. The company identified errors related to the valuation and impairment of operating lease right of use assets for fiscal years 2022 and 2023. The restatements are expected to increase the net loss and loss per share for the impacted periods. Sonder also provided estimated financial highlights for the fourth quarter and full year 2023.
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Sonder Holdings Inc. (NASDAQ: SOND) appoints Tom Buoy as Executive Vice President and Chief Commercial Officer, bringing over 30 years of experience in the hospitality sector. Buoy's role will encompass revenue generation and strategy, including revenue management, marketing, sales, and distribution.
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Sonder Holdings Inc. (NASDAQ: SOND) announced equity inducement grants of stock options for 121 newly hired employees under the 2023 Inducement Equity Incentive Plan. The grants included stock options for the Chief Accounting Officer. The options have an exercise price of $3.40 per share, a ten-year term, and vest over four years.
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Sonder Holdings Inc. (NASDAQ: SOND) announced its third quarter 2023 financial results, available in a Shareholder Letter on the company's website. A webcast will be hosted to discuss the financial and business results and outlook.
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Sonder Holdings Inc. (NASDAQ: SOND) announces the release of its third quarter 2023 financial results on November 14, 2023. The company will host a conference call and webcast to discuss its financial and business results and outlook.
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Sonder Holdings Inc. is launching three new properties in Southern California, including two office-to-hotel conversions in Downtown Los Angeles and a renovated hotel in Laguna Beach.
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Sonder Holdings Inc. appoints Adam K. Bowen as Chief Accounting Officer, strengthening its leadership team.
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Sonder Holdings Inc. announces changes to its Board of Directors, appointing Tom Buoy and Simon Turner effective October 1, 2023. Buoy has over 30 years of experience in the hospitality sector, while Turner has over 35 years of experience in the hospitality and real estate sectors. Gilda Perez-Alvarado will be stepping down from the Board. The new directors bring deep expertise in executive leadership, operations, revenue generation, and real estate. Sonder aims to achieve sustainable cash flow positivity as part of its mission to revolutionize hospitality.
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Sonder Holdings Inc. will effect a reverse stock split of its common stock at a ratio of 1-for-20 to regain compliance with Nasdaq's bid price requirement. The stock is expected to begin trading on a reverse-split-adjusted basis on September 21, 2023. The total number of authorized shares of common stock will be reduced from 400,000,000 to 20,000,000. Any fractional shares will be paid out in cash. Proportional adjustments will be made to outstanding warrants, stock options, and equity awards. The exercise price for publicly traded warrants will be adjusted to $230.00 per share. The reverse stock split will also affect Sonder Canada Inc.'s exchangeable preferred shares on a 1-for-20 basis. Registered stockholders do not need to take any action.
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Sonder Holdings Inc. grants stock options to newly hired employees under the Inducement Plan.
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FAQ

What is the current stock price of Sonder Holdings (SOND)?

The current stock price of Sonder Holdings (SOND) is $3.21 as of December 20, 2024.

What is the market cap of Sonder Holdings (SOND)?

The market cap of Sonder Holdings (SOND) is approximately 34.0M.

What does Sonder Holdings Inc. do?

Sonder Holdings Inc. offers short and long-term accommodations to travelers in North America, Europe, and the Middle East, featuring apartment-style and hotel properties managed directly by the company.

How does Sonder generate revenue?

Sonder generates revenue by providing short-term or month-to-month accommodations for guests.

What recent financial updates has Sonder announced?

Sonder recently announced its second-quarter 2023 financial results and is actively working on filing pending SEC reports to regain compliance with Nasdaq listing rules.

What is the Sonder app?

The Sonder app allows guests to control their stay with self-service features, simple check-in, and 24/7 support from the comfort of their mobile devices.

What markets does Sonder operate in?

Sonder operates in over 40 markets across ten countries and three continents, including North America, Europe, and the Middle East.

What is Sonder's portfolio optimization program?

Sonder's portfolio optimization program aims to improve financial performance by exiting or reducing rent for underperforming properties, leading to significant annualized run-rate free cash flow improvements.

How many buildings is Sonder exiting or reducing rent for?

Sonder has agreements to exit or reduce rent for approximately 105 buildings, accounting for 4,300 units.

What is Sonder's approach to hospitality?

Sonder combines innovative, tech-enabled service with thoughtfully designed accommodations to create a seamless and high-quality guest experience.

How can I stay updated with Sonder's latest news?

You can stay updated with Sonder's latest news by visiting their website at www.sonder.com or following them on social media platforms such as Instagram, LinkedIn, and X (Twitter).

How do I contact Sonder for media or investor inquiries?

For media inquiries, email press@sonder.com. For investor relations, email ir@sonder.com.

Sonder Holdings Inc.

Nasdaq:SOND

SOND Rankings

SOND Stock Data

33.99M
9.85M
8.95%
52.49%
8.59%
Lodging
Hotels, Rooming Houses, Camps & Other Lodging Places
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