{"id":739302,"date":"2023-03-10T21:51:08","date_gmt":"2023-03-11T02:51:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sonder-holdings-inc-issues-statement-regarding-silicon-valley-bank-2\/"},"modified":"2023-03-10T21:51:08","modified_gmt":"2023-03-11T02:51:08","slug":"sonder-holdings-inc-issues-statement-regarding-silicon-valley-bank-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sonder-holdings-inc-issues-statement-regarding-silicon-valley-bank-2\/","title":{"rendered":"Sonder Holdings Inc. Issues Statement Regarding Silicon Valley Bank"},"content":{"rendered":"

<\/p>\n

Sonder Holdings Inc. Issues Statement Regarding Silicon Valley Bank<\/b><\/p>\n

SAN FRANCISCO–(BUSINESS WIRE<\/a>)–
\nSonder Holdings Inc. (NASDAQ: SOND; the \u201cCompany\u201d or \u201cSonder\u201d), a leading next-generation hospitality company that is redefining the guest experience through technology and design, issued a statement regarding Silicon Valley Bank.\n<\/p>\n

\nThe Company had $289 million of cash and restricted cash as of December 31, 2022, over half of which is held in a AAA-rated BlackRock money market fund. As of March 9, 2023, the Company had approximately $2 million in an operating cash account and approximately $20 million in deposit accounts with Silicon Valley Bank (SVB).\n<\/p>\n

\nSonder also holds a $60 million line of credit facility with SVB issued in the ordinary course of business for the benefit of property owners and other counterparties, of which $13 million is currently utilized in the form of letters of credit.\n<\/p>\n

\nWe continue to actively monitor the evolving situation with SVB and will take appropriate actions as needed.\n<\/p>\n

About Sonder Holdings Inc.<\/b><\/p>\n

\nSonder (NASDAQ: SOND) is revolutionizing hospitality through innovative, tech-enabled service and inspiring, thoughtfully designed accommodations combined into one seamless experience. Launched in 2014 and headquartered in San Francisco, Sonder provides a variety of accommodation options \u2014 from spacious rooms to fully-equipped suites and apartments \u2014 found in over 40 markets spanning ten countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24\/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.\n<\/p>\n

\nTo learn more, visit www.sonder.com<\/a> or follow Sonder on Facebook<\/a>, Twitter<\/a> or Instagram<\/a>.\n<\/p>\n

\nDownload the Sonder app on Apple<\/a> or Google Play<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230310005437\/en\/<\/a><\/span><\/p>\n

\nMedia:
\n
press@sonder.com<\/a><\/p>\n

\nInvestor:
\n
ir@sonder.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Software Lodging Finance Travel Data Management Professional Services Technology Apps\/Applications<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Sonder Holdings Inc. Issues Statement Regarding Silicon Valley Bank SAN FRANCISCO–(BUSINESS WIRE)– Sonder Holdings Inc. (NASDAQ: SOND; the \u201cCompany\u201d or \u201cSonder\u201d), a leading next-generation hospitality company that is redefining the guest experience through technology and design, issued a statement regarding Silicon Valley Bank. The Company had $289 million of cash and restricted cash as of December 31, 2022, over half of which is held in a AAA-rated BlackRock money market fund. As of March 9, 2023, the Company had approximately $2 million in an operating cash account and approximately $20 million in deposit accounts with Silicon Valley Bank (SVB). Sonder also holds a $60 million line of credit facility with SVB issued in the ordinary course of business for the … <\/p>\n

Continue reading “Sonder Holdings Inc. Issues Statement Regarding Silicon Valley Bank”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-739302","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSonder Holdings Inc. Issues Statement Regarding Silicon Valley Bank - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sonder-holdings-inc-issues-statement-regarding-silicon-valley-bank-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sonder Holdings Inc. 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