In the last year, I spent nine out of last 12 months in Sonders across 20 plus of our markets, driving from place to place and working from them. Sonder announced that it's going public via a SPAC deal that values the company at $2.2 billion. Why are you in such a good position to go public now when it's been a challenge across the board for your competitors? We thought that's where the hospitality industry was bound to go and where the customer would prefer to go, but COVID has really accelerated that. There's no product out there that is as high quality, consistent, affordable, and perfectly well set up to work while you're on the road. Below are the highlights from the presentation. The proposed business combination remains on track to close in the second half of 2021, subject to approval by Gores Metropoulos IIs stockholders and other customary closing conditions. Hypothetical model results have many inherent limitations, some of which, but not all, are described herein. The company says it has 500 customers, including JLL, retail center operators Brixmor and Taubman, along with Planet Fitness and Dollar General. Driven in part by increasing supply from 12k total units (live + contracted) in 2020 to 102k total units in 2025. WebLaunched in 2014 and headquartered in San Francisco, Sonder provides a variety of accommodation options from spacious rooms to fully-equipped suites and apartments Any and all subjective claims and statements made on this site regarding companies or securities are strictly the beliefs and views held by Volt and are in no way meant to be an endorsement by Volt of any company or security and nor is it meant to be a recommendation by Volt to buy, sell, or hold any security.Past performance is no guarantee of future returns. The San-Francisco-based company was in talks with Gores about going public in In the markets that we're in we're talking about substantial investments into those local economies either through our partners or with the employees that we have on the ground. Investors should be aware of the inherent risks involved in investing in the markets and that past performance is not an indication of future results. It's like a hybrid of Airbnb and Hilton, turning apartments into hotel suites. Investors should be aware of the inherent risks involved in investing in the markets and that past performance is not an indication of future results. See here for a complete list of exchanges and delays. The results presented should not be viewed as indicative of the adviser skill and do not reflect the performance results that were achieved by any particular client. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 1)) and the proposed Business Combination contemplated thereby; (b) the inability to complete the proposed Business Combination due to the failure to obtain approval of the stockholders of Gores Metropoulos II or other conditions to closing in the Merger Agreement (as amended by Amendment No. This works really well for apartments, which is where we got started, but we realized that we could actually do this and operate hotels more effectively. The Registration Statement, including the proxy statement/consent solicitation statement/prospectus contained therein, when it is declared effective by the SEC, will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Gores Metropoulos IIs stockholders to be held to approve the proposed Business Combination and other matters (the Special Meeting) and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Overview | Sonder Holdings Inc. Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, The De-SPAC Index, which tracks 25 such companies, is down 28% in 2022. GoresGroup-SVC@sardverb.com, Internet Explorer presents a security risk. Hypothetical model results have many inherent limitations, some of which, but not all, are described herein. Unless otherwise noted, any performance returns presented in these materials reflect hypothetical performance. Sonder is a travel tech and hospitality firm that competes with Airbnb, leasing and managing an array of short-term rental units across 10 countries and three continents. Arguably, business is going to take longer to recover. The company expects the deal to close in the second half of 2021. Filing date. Wilson Sonsini Goodrich & Rosati, P.C. 310-209-3010 Moreover, Sonder has signed a non-binding term sheet for Delayed Draw Notes of $220 million with existing PIPE investors, to be available following the closing of the proposed business combination, which enables the Company to fund its growth over the next several years. Founded in 2014, the Israel-based company has been in growth mode. Stay up to date with what you want to know. Proptech was no exception, with 15 new SPACs in February followed by 16 in March and just one so far in April, according to TRDs SPAC tracker. The content and proprietary research found on this site, unless stated otherwise, has been entirely produced by Volt. 0001819395-23-000056.pdf. Sonder will receive approximately $110 million in additional capital from affiliates of Gores Metropoulos II and other leading investors, including Fidelity Management & Research LLC, funds and accounts managed by BlackRock, Atreides Management, LP, and Senator Investment Group (the New PIPEs), in addition to the $200 million previously announced PIPE (the Existing PIPE). Weil, Gotshal & Manges LLP is serving as legal advisor to Gores Metropoulos II. Kindred Group plc reports in accordance with IFRS and has calendar year as financial year. Gores Metropoulos II, Inc. (Nasdaq: GMII, GMIIW, and GMIIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Metropoulos & Co. whose Principals are Dean, Evan and Daren Metropoulos. Sonders common shares are currently trading on the Nasdaq under the symbol SOND, at a price of $8.61 USD. Josh Scott is a BetaKit reporter focused on breaking news and telling in-depth Canadian tech stories. And this is kind of the force that the capital markets are, in a sense, designed to go and bet on. Last year, OpenSpaces maps more than came in handy. real estate targeting, warehouse and inventory management, logistics planning, etc.). Takeaway: Sonder is expecting insane levels of growth, and despite being in a capital-intensive business, sees a rapid path to profitability. As part of the transaction, Sonder and GMII raised a $200 million fully committed PIPE, led by an affiliate of The Gores Group, with participation from top-tier institutional investors, including Fidelity Management & The amended terms revise the combined companys pro forma enterprise value to $1.925 billion. Weil, Gotshal & Manges LLP served as legal advisor to GM II. Also, securities and options traded in over-the-counter markets may trade less frequently and in limited volumes and thus exhibit more volatility and liquidity risk.The content on this site is not intended to serve as financial advice nor should it be the sole basis for any investment decisions. The company previously raised more than $560 million and is backed by investors Chris Mammone, The Blueshirt Group And this is really the purpose that the technology serves. Sard Verbinnen & Co San Francisco-based Sonder Holdings Inc. (Sonder) officially launched in 2014 and was co-founded by Francis Davidson, Chief Executive Officer, and Martin Picard, Global Head of Real Estate. Thank you! All quotes delayed a minimum of 15 minutes. OpenSpace, founded in 2017, uses AI and cameras affixed to workers hardhats, to provide 360-degree images of job sites. We spoke with Sonder's Francis Davidson about the deal and his outlook on the hospitality industry. Sonder will be scheduling a bell ringing ceremony with Nasdaq at a later date to formally celebrate its public listing. Were excited to watch them continue to expand and reshape guest stays at a global level.. Sard Verbinnen & Co A key takeaway from todays news is that our ambitious growth and expansion strategy remains unchanged and should be fully-funded. WebSonder Holdings, Inc., a leading next-generation hospitality company, and Gores Metropoulos II, Inc. announce closing of business combination. SAN FRANCISCO & LOS ANGELES-- ( BUSINESS WIRE )--Sonder Holdings Inc. (Sonder'' or the Company), a leading next-generation hospitality 2021, Volt Equity (Volt). Can you talk me through your decision to go public? SPACs can then merge with private companies, taking them public in the process. Get the latest news about hotels and short-term rentals delivered to your inbox once a week. Additional risks and uncertainties are identified and discussed in Sonders reports filed and to be filed with the SEC and available at the SECs website at www.sec.gov. Content is subject to change without notice. The high redemption rate for the Sonder deal stands out for SPACs led by buyout In the past few years, we've shifted away from trying to get into existing buildings that are up and running, but rather working with developers to build new ones or do really substantial renovations on older ones. San Franciscos short-term rental startup Sonder has lowered its going-public-through-SPAC valuation down to $1.925 billion from the earlier planned $2.2 The content should not be considered investment advice and is for educational purposes only. Thats relatively flat year over year and up $36 million from Q4 2020. GORES HOLDINGS IX, INC. Gores Holdings IX, Gores fourteenth special purpose acquisition company, completes $525 Million IPO. John Christiansen/Cassandra Bujarski Last year, because of the pandemic, it lost almost $198 million, but projects profitability by 2023. In this space you will find all of our financial reports, presentations, webcasts and relevant video material. We provide modern service through the phone, and we bring quality and standards to the industry. CEO Francis Davidson co-founded Sonder as a college student in Montreal in 2014. For more investment insights, sign up for our email list below and subscribe to our YouTube channel. All material subject to strictly enforced copyright laws. It claims the platform also placed $7.7 billion in title insurance and $1.4 billion in homeowners insurance. Equipping the balance sheet with hundreds of millions of dollars through this transaction allows us to do that in a way that is super financially sound and finances a plan that can bring really rapid growth and investments in technology we think are really going to pay off big time. As part of the proposed business combination, the Company will receive approximately $110 million in incremental capital from affiliates of Gores Metropoulos II and other leading investors including Fidelity Management & Research Company LLC, funds and accounts managed by BlackRock, Atreides Management, LP, and Senator Investment Group pursuant to the New PIPEs, in addition to the $200 million Existing PIPE, which continues to be led by affiliates of Gores Metropoulos II, with participation from top-tier institutional investors including Fidelity Management & Research Company LLC, funds and accounts managed by BlackRock, Atreides Management, LP, funds and accounts managed by Principal Global Investors, LLC, and Senator Investment Group.

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