GlobeNewswire·Aug 31, 2026, 5:21 PM ET

Sono Group N.V. and Sports One Sign Letter of Intent to Combine and Expand into Professional Sports Franchise Ownership

SEV SEVCF SSM

Sono Group N.V. (NASDAQ: SSM) & Sports One have signed a non-binding letter of intent to combine into a publicly traded company renamed Sports One.
The combined entity will acquire minority interests in NFL, NBA, MLB, & NHL franchises while operating a sports intelligence business serving athletes, teams, universities, & sponsors.
Existing Sports One equity holders are expected to own a super-majority of the new public company.
A concurrent registered direct offering saw investors purchase 19.9% of Sono Group's outstanding ordinary shares at market price with no discount or warrant coverage.
Investors in the direct offering entered 180-day lock-up agreements, subject to waiver conditions, with proceeds allocated for working capital & general corporate purposes.
The proposed structure offers permanent capital with daily liquidity, removing the forced exit timelines typical of traditional private investment funds.
Sports One's intelligence engine utilizes real-time athlete data & AI to value Name, Image, & Likeness (NIL) rights for teams, betting markets, & brands.
The new company will be led by the Sports One management team, including Founder Paul Misir & Co-CEO Chris Kelly, who possess direct ownership experience in major sports leagues.
A call option agreement was established to allow Sports One affiliates to acquire approximately half of Sono Group's preferred shares held by YA II PN, Ltd.
The transaction remains subject to due diligence, regulatory review, shareholder approval, & the execution of definitive agreements.