Sonder Holdings Inc. and its subsidiaries (“Sonder”), a global brand of premium, design-forward apartments and intimate boutique hotels, in a transformational out-of-court restructuring, consisting of approximately $146 million of incremental liquidity, including an approximately $43 million preferred equity capital raise. These transactions executed contemporaneously with a strategic long-term licensing agreement with Marriott International, Inc. and provided access to significant new money investments, strengthening Sonder’s financial and liquidity position.
