Sonder Exits 60 Underperforming Properties, Aims for $40M Cash Flow Improvement
Portfolio Pulse from Benzinga Newsdesk
Sonder Holdings Inc. (NASDAQ:SOND) has announced a portfolio optimization program, exiting 60 underperforming properties to improve cash flow by $40 million annually. The company has also secured an additional $10 million in financing to enhance liquidity.
June 11, 2024 | 11:37 am
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Sonder Holdings Inc. (NASDAQ:SOND) has exited 60 underperforming properties, aiming for a $40 million annual cash flow improvement. The company has also secured an additional $10 million in financing to enhance liquidity.
Exiting underperforming properties and securing additional financing are positive steps towards improving Sonder's financial health. This should enhance investor confidence and potentially lead to a short-term increase in stock price.
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