Sono Motors, the solar electric car maker, goes public today

Last week electric car company Riven went public and had one of the best IPOs of 2021 yet. The green car company raised $12 billion, reports Nasdaq. Today, another green car company, Sono Motors, goes public. Could it be another wildly successful vehicle-related IPO? Here’s what you need to know:

  • What is Sono Motors? Sono Motors is a German “green” car company. Sono develops solar power technology that can be used by other car manufacturers. The company is also working on its own vehicle, the Sion, which the company says is “the world’s first solar electric vehicle (SEV) for the masses.”
  • When is Sono Motors’ IPO? It takes place today, November 17, 2021.
  • What market is Sono Motors trading on? It will trade on the Nasdaq Global Market.
  • What is Sono Motor’s stock symbol? Sono Motor will trade under the ticker “SEV.”
  • What is the IPO price? SEV shares will begin trading at $15 each, according to a Sono Motors press release.
  • How many shares are available? 10 million SEV shares will be offered to the public.
  • How much will Sono Motors raise in today’s IPO? If all 10 million shares sell for $15, they’ll raise $150 million.