SONDORS, which makes electric bikes and motorcycles, filed on Tuesday with the SEC to raise up to $25 million in an initial public offering.
SONDORS manufactures premium electric bikes through a collection of kits designed to comfortably handle conditions ranging from paved-roads to rugged mountain biking terrain. Through a partnership agreement, SONDORS aims to make e-bikes more accessible to riders by offering its entry level model to Costco customers. Additional e-bike models are sold direct-to-consumer, enabling the end customer to make customizations across its portfolio of products, ranging from full-suspension, mid-drive mountain bikes, to MadMods offerings, which feature wide tires and customizable style kits. The company has delivered over 63,000 e-bikes in 72 countries since 2015, and currently has over 10,000 pre-orders for its e-motorcycle in development.
The Malibu, CA-based company was founded in 2013 and booked $18 million in sales for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol SODR. Lake Street Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
