Brief: Sonder Determined Financial Statements For Year Ended Dec 31, 2022 Should No Longer Be Relied Upon

Sonder Holdings

15/03/2024 22:03

March 15 (Reuters) - Sonder Holdings Inc  SOND.O :
    * SONDER- ON MARCH 14 DETERMINED FINANCIAL STATEMENTS FOR
YEAR
ENDED DEC 31, 2022 SHOULD NO LONGER BE RELIED UPON
    * SONDER-FINANCIAL STATEMENTS SHOULD NOT BE RELIED UPON DUE
TO
ACCOUNTING ERRORS RELATED TO VALUATION,IMPAIRMENT OF OPERATING
LEASE ROU ASSETS, RELATED ITEMS
    * SONDER HOLDINGS INC - EXPECTS THAT RESTATEMENTS WILL
INCREASE
COMPANY'S OVERALL NET LOSS AND LOSS PER SHARE IN IMPACTED
PERIODS.
    * SONDER-EXPECTS TO RECORD MATERIAL NON-CASH IMPAIRMENT
CHARGES,
RELATED REDUCTIONS IN ROU LEASE ASSETS, RELATED ITEMS, IN
CERTAIN NON-RELIANCE PERIODS
    * SONDER HOLDINGS INC - REDUCING ITS CORPORATE HEADCOUNT BY
38%
SINCE Q1 OF 2022
    * SONDER HOLDINGS INC - MAY NOT BE ABLE TO CONTINUE ONGOING
OPERATIONS OR MEET ITS OBLIGATIONS WITHOUT FAVORABLE LIQUIDITY
OPTIONS OR ADDITIONAL FUNDING
    * SONDER HOLDINGS INC - AS OF DECEMBER 31, 2023, COMPANY'S
TOTAL
CASH, CASH EQUIVALENTS AND RESTRICTED CASH WAS $136.5 MILLION

Source text for Eikon:  ID:n0001819395-24-000015 
Further company coverage:  SOND.O 

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