Sonder Raises $24.54M, Converts Marriott Fees to Notes, and Seeks Shareholder Approval for Warrant Issuance

Sonder Holdings Inc. raised $24.54 million through the issuance of senior secured promissory notes and warrants to buy common stock. The notes carry a 15% annual interest rate and mature in July 2026. The company also amended its agreement with Marriott International Inc. and ended its existing Loan and Security Agreement with Silicon Valley Bank, improving financial agility. Sonder's recent earnings highlight ongoing efforts to improve performance and scale operations.