SCHEDULE: Spark Capital Funds Divest Entire Stake in Sonder Holdings Inc.

Spark Capital IV, L.P., Spark Capital Founders' Fund IV, L.P., and Spark Management Partners IV, LLC have reported a 0% beneficial ownership in Sonder Holdings Inc., indicating a full divestment of their previously held stake.

Summary

• This filing is Amendment No. 2 to the Schedule 13G for Sonder Holdings Inc. Common Stock.
• The reporting persons, Spark Capital IV, L.P., Spark Capital Founders' Fund IV, L.P., and Spark Management Partners IV, LLC, collectively hold 0.00 shares, representing 0% of Sonder Holdings Inc.'s Common Stock.
• The event requiring this filing occurred on June 30, 2025, indicating the date by which the reporting persons ceased to be beneficial owners of a reportable stake.
• This amendment updates previous Schedule 13G filings from January 28, 2022, and Amendment No. 1 filed on February 6, 2024.
• The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 3

Explanation: The complete divestment by Spark Capital funds is a negative signal for Sonder Holdings Inc., suggesting a lack of confidence from a significant institutional investor.

Negatives

• The complete divestment by Spark Capital funds, a significant institutional investor, could be perceived as a negative signal by the market regarding Sonder Holdings Inc.'s prospects.

Risks

• Potential negative market perception and downward pressure on share price due to a major institutional investor exiting its entire position in Sonder Holdings Inc.

Future Outlook

No forward-looking statements or guidance are provided by Sonder Holdings Inc. in this filing, as it is a disclosure from an institutional investor regarding ownership changes.

Industry Context

This filing is a routine disclosure of an institutional investor's change in ownership. While it does not directly provide broader industry trends, the complete divestment by a venture capital firm like Spark Capital from a hospitality technology company such as Sonder Holdings Inc. could reflect specific concerns about the company's performance or the sector's outlook.

Stakeholder Impact

• Shareholders: May react negatively to the news of a significant institutional investor exiting its position, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

Keywords

Sonder Holdings Inc., Spark Capital, Schedule 13G, beneficial ownership, divestment, institutional investor, common stock