What's Going On With Sonder Shares Today: What's Going On?

Sonder Holdings Inc ( SOND ). are trading higher Monday after the company announced a set of financial and strategic actions aimed at improving its balance sheet and operational efficiency.

What To Know: The company disclosed an $18 million equity financing through the sale of Series A preferred stock, along with amendments to its existing Note and Warrant Purchase Agreement that reduce both principal and interest obligations. These steps are part of a broader plan to stabilize Sonder's ( SOND ) financial position.

In addition to the capital raise, Sonder ( SOND ) confirmed it received $7.5 million in previously announced key money from Marriott International and is on track to fully integrate its platform with Marriott's digital ecosystem by the end of second-quarter 2025. This integration will make all Sonder ( SOND ) properties accessible on Marriott's booking platforms and provide access to Marriott's global sales network and its Bonvoy loyalty program, which has nearly 228 million members.

Sonder ( SOND ) plans to implement roughly $50 million in annualized cost reductions, driven by workforce cuts, software savings, and operational efficiencies tied to the Marriott integration. The company says these changes mark a significant step in its transformation strategy, aimed at increasing profitability and long-term sustainability.

SOND Price Action: Sonder ( SOND ) shares were up 23.1% at $2.77 at the time of writing, according to Benzinga Pro.

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