Sono Group NV (SEVCQ)

[Enterprising Investor]

Sevcon, Inc. Announces Record Date for Rights Offering to Its Stockholders (7/15/14)

SOUTHBOROUGH, Mass., July 15, 2014 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq:SEV) a world leader in the design and manufacture of microprocessor-based controls for zero emission electric and hybrid vehicles, today announced that the record date for its previously announced rights offering will be July 25, 2014. The rights offering, for which Sevcon has filed a registration statement with the Securities and Exchange Commission, is intended to raise $10 million before expenses in a cost-effective manner that gives all of Sevcon's existing stockholders the opportunity to participate. The net proceeds will be used for general corporate purposes and growth, including funding Sevcon's ongoing research and development and product commercialization initiatives and acquisitions of other businesses. The subscription price and the subscription period have not yet been determined and will be included in the final prospectus that will be filed with the SEC.

http://www.globenewswire.com/news-release/2014/07/15/650889/10089440/en/Sevcon-Inc-Announces-Record-Date-for-Rights-Offering-to-Its-Stockholders.html