Apr. 14 at 1:06 PM
$SOND pulls multiple levers to stay afloat:
$18M preferred stock sale, debt principal reduction, and
$50M cost cuts. Marriott integration completion by Q2 2025 could boost distribution, but dilution from 17.98M new preferred shares looms. CEO Davidson buying
$595K shows skin in the game. High-risk maneuver in negative equity (-
$596M) environment.
https://www.sec.gov/Archives/edgar/data/1819395/000175392625000627/g084774_8k.htm