Brief: Sonder Holdings Inc. Announces Amendment To Financing Agreement And Provides Update On Portfolio Optimization Program

Sonder Holdings

11/06/2024 13:01

June 11 (Reuters) - Sonder Holdings Inc  SOND.O :
    * SONDER HOLDINGS INC. ANNOUNCES AMENDMENT TO FINANCING
AGREEMENT
AND PROVIDES UPDATE ON PORTFOLIO OPTIMIZATION PROGRAM
    * SONDER HOLDINGS INC: AMENDMENT PROVIDES FOR ADDITIONAL
COMMITMENTS WITH AN AGGREGATE PRINCIPAL AMOUNT OF $10 MILLION
    * SONDER HOLDINGS INC: AS OF JUNE 10, SIGNED AGREEMENTS TO
EXIT OR
REDUCE RENT FOR ABOUT 105 BUILDINGS (4,300 UNITS)
    * SONDER HOLDINGS INC: AGREEMENTS TO EXIT OR REDUCE RENT
EXPECTED
TO LEAD TO ESTIMATED ANNUALIZED RUN-RATE FREE CASH FLOW
IMPROVEMENTS OF OVER $40 MILLION
    * SONDER HOLDINGS INC: EXPECTS TERMINATION FEES OF LESS THAN
$20
MILLION ASSOCIATED WITH THESE AGREEMENTS
    * SONDER HOLDINGS INC: HAS ALREADY EXITED ABOUT 60 BUILDINGS
(2,300 UNITS) AND EXPECTS TO EXIT REMAINING BUILDINGS THROUGHOUT
REMAINDER OF 2024

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