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Battery Systems, Supercapacitors & Solar

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Sono Motors signs rescue deal with American hedge fund

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By Bradley Osborne - 6th December 2023

Germany / USA – Sono Motors GmbH, a solar technology startup based in Munich, Bavaria, Germany, has announced that it will take itself out of self-administration following the closure early next year of an investment agreement with an American-based hedge fund.

The German company fell into insolvency back in May and has since been courting “several” potential investors. Now YA II PN Ltd, a hedge fund managed by Yorkville Advisors of Mountainside, New Jersey, USA, has agreed to invest an undisclosed sum in Sono Motors in order to keep it solvent until at least the end of 2024.

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