Names Frits van Paasschen, current member of
the Board and former President & CEO of Starwood Hotels, as
Lead Independent Director
Janice L. Sears, former Bank of America
executive, joins Board as Audit Committee Chair
Sonder Holdings Inc. (“Sonder”), a leading next-generation
hospitality company that is redefining the guest experience through
technology and design, today announced new appointments to its
Board of Directors.
Frits van Paasschen, current member of the Board and former
Starwood Hotels President & CEO, has been named Lead
Independent Director. Van Paasschen has served on Sonder’s Board
since February 2020. Janice L. Sears, former Managing Director and
Western Region Head at Bank of America Merrill Lynch, will join the
Board and serve as Audit Committee Chair. Van Paasschen and Sears
join Manon Brouillette, Nabeel Hyatt and Vivek Pattipati on
Sonder’s Board.
“We are privileged to benefit from Frits’ significant experience
in building and operating a premier hospitality brand as a public
company CEO and he has been a great strategic partner to this
business as a member of the Sonder Board. I am thrilled to have him
take on the expanded role of Lead Independent Director,” said
Francis Davidson, Co-Founder and CEO of Sonder and Chair of the
Board.
“We’re also very excited to welcome Janice to Sonder’s Board.
Her deep experience in real estate as well as corporate governance
will be strong additions to Sonder’s board as we accelerate our
growth and prepare to enter the public markets,” continued
Davidson.
Sonder’s Board of Directors also includes Manon Brouillette,
Nabeel Hyatt and Vivek Pattipati.
Brouillette was appointed as a Director in June 2020. She
currently serves as Chief Operating Officer and Deputy CEO for
Verizon Consumer Group. She was formerly President and Chief
Executive Officer of Vidéotron, a Canadian telecommunications
company. Brouillette serves on the board of directors of the
National Bank of Canada, as well as Altice USA.
Hyatt has served as a Director since February 2016. Hyatt is
General Partner at Spark Capital, a venture capital firm and was
formerly Co-founder and CEO of Conduit Labs, later acquired by
Zynga Inc., a social game developer, where he later served as
General Manager.
Pattipati has served as a Director since September 2018, as a
Partner at Valor Management LLC and was formerly a Director at
Madison Dearborn Partners.
These recent appointments for Sonder’s Board of Directors come
at a time of accelerating growth for the company after it recently
announced plans to be publicly listed through a combination with
Gores Metropoulos II, Inc. (Nasdaq: GMIIU, GMII and GMIIW).
The company also recently reported second quarter results,
highlighting record quarterly revenue and raised revenue outlook
for 2021. Sonder has also expanded its product offering into
corporate travel as well as announced a significant expansion of
the Company’s presence in the Middle East.
About Sonder
Sonder is revolutionizing hospitality through innovative,
tech-enabled service and inspiring, thoughtfully designed
accommodations combined into one seamless experience. Launched in
2014 and headquartered in San Francisco, Sonder provides a variety
of accommodation options — from spacious rooms to fully-equipped
suites and apartments — found in over 35 markets spanning nine
countries and three continents. The Sonder app gives guests full
control over their stay. Complete with self-service features,
simple check-in and 24/7 on-the-ground support, amenities and
services at Sonder are just a tap away, making a world of better
stays open to all.
To learn more, visit www.sonder.com or follow Sonder on
Facebook, Twitter or Instagram. Download the Sonder app on Apple or
Google Play.
Additional Information and Where to Find It
Additional information about the proposed business combination
between Sonder and Gores Metropoulos II, Inc. (“GMII”), including a
copy of the Merger Agreement provided in a Current Report on Form
8-K filed by GMII with the SEC on April 30, 2021, and a copy of an
updated investor presentation provided in a Current Report on Form
8-K filed by GMII with the SEC on July 7, 2021, is available at
www.sec.gov. In connection with the proposed business combination,
GMII has filed a registration statement on Form S-4 (the
“Registration Statement”) that includes a preliminary proxy
statement, prospectus and consent solicitation statement with
respect to GMII’s securities to be issued in connection with the
proposed business combination. The Registration Statement is not
yet effective. The Registration Statement, including the proxy
statement/prospectus/consent solicitation statement contained
therein, when it is declared effective by the SEC, will contain
important information about the proposed business combination and
the other matters to be voted upon at a meeting of GMII’s
stockholders to be held to approve the proposed business
combination and other matters (the “Special Meeting”) and is not
intended to provide the basis for any investment decision or any
other decision in respect of such matters. GMII may also file other
documents regarding the proposed business combination with the SEC.
GMII stockholders and other interested persons are advised to read,
when available, the Registration Statement and the proxy
statement/prospectus/consent solicitation statement, as well as any
amendments or supplements thereto, because they will contain
important information about the proposed business combination.
When available, the definitive proxy
statement/prospectus/consent solicitation statement will be mailed
to GMII stockholders as of a record date to be established for
voting on the proposed business combination and the other matters
to be voted upon at the Special Meeting. GMII investors and
securityholders will also be able to obtain copies of the
definitive proxy statement/prospectus/ consent solicitation
statement, without charge, once available, at the SEC’s website at
www.sec.gov or by directing a request to: 6260 Lookout Road,
Boulder, CO 80301, attention: Jennifer Kwon Chou, or by contacting
Morrow Sodali LLC, GMII’s proxy solicitor, for help, toll-free at
(800) 662-5200 (banks and brokers can call collect at (203)
658-9400).
Participants in Solicitation
GMII, Sonder and their respective directors and officers may be
deemed participants in the solicitation of proxies of GMII
stockholders in connection with the proposed business combination.
GMII stockholders and other interested persons may obtain, without
charge, more detailed information regarding the interests of those
persons and other persons who may be deemed participants in the
proposed business combination by reading GMII’s registration
statement on Form S-1 (File No. 333-251663), which was declared
effective by the SEC on January 19, 2021, and the proxy
statement/prospectus/consent solicitation statement regarding the
proposed business combination.
You may obtain free copies of these documents as described in
the preceding paragraph.
Forward-Looking Statements
This press release contains a number of “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not
limited to, statements about Sonder’s forecasted revenue growth,
Sonder’s growth in total unit portfolio, information concerning
GMII’s or Sonder’s possible or assumed future financial or
operating results and metrics, business strategies, debt levels,
competitive position, industry environment, potential growth
opportunities, future operations, products and services, planned
openings, expected unit contractings and the effects of regulation,
including whether the proposed business combination will generate
returns for stockholders. These forward-looking statements are
based on GMII’s or Sonder’s management’s current expectations,
estimates, projections and beliefs, as well as a number of
assumptions concerning future events. When used in this press
release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
GMII’s or Sonder’s management’s control, that could cause actual
results to differ materially from the results discussed in the
forward-looking statements. These risks, uncertainties, assumptions
and other important factors include, but are not limited to: (a)
the occurrence of any event, change or other circumstances that
could give rise to the termination of the Merger Agreement and the
proposed business combination contemplated thereby; (b) the
inability to complete the proposed business combination due to the
failure to obtain approval of the stockholders of GMII or other
conditions to closing in the Merger Agreement; (c) the ability to
meet Nasdaq’s listing standards following the consummation of the
proposed business combination; (d) the inability to complete the
PIPE; (e) the risk that the proposed business combination disrupts
current plans and operations of Sonder or its subsidiaries as a
result of the announcement and consummation of the transactions
described herein; (f) the ability to recognize the anticipated
benefits of the proposed business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (g) costs related to the proposed
business combination; (h) changes in applicable laws or
regulations, including legal or regulatory developments (such as
the SEC’s statement on accounting and reporting considerations for
warrants in special purpose acquisition companies); (i) the
possibility that Sonder may be adversely affected by other
economic, business and/or competitive factors; (j) risks related to
the impact of the COVID-19 pandemic, including the Delta variant
and potential governmental and other restrictions (including travel
restrictions) resulting therefrom; and (k) other risks and
uncertainties described in the final proxy
statement/prospectus/consent solicitation statement, including
those under the heading “Risk Factors” therein, and other documents
filed by GMII from time to time with the SEC. You are cautioned not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. Except as required by law, neither
GMII nor Sonder undertakes any obligation to update or revise its
forward-looking statements to reflect events or circumstances after
the date of this release. Additional risks and uncertainties are
identified and discussed in GMII’s reports filed and to be filed
with the SEC and available at the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication relates to a proposed business combination
between GMII and Sonder. This document does not constitute an offer
to sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210826005102/en/
Fiona Story press@sonder.com
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