Polar Asset Management Partners Invests in Sonder Holdings
Deal News | Aug 13, 2025 | Ropes & Gray
Ropes & Gray has advised Polar Asset Management Partners in a significant financing deal involving Sonder Holdings Inc., a company renowned for its design-forward apartments and boutique hotels in premium locations worldwide. This complex transaction, which closed on August 5, 2025 and was disclosed publicly on August 7, 2025, involves an investment in units consisting of senior secured notes and warrants issued by Sonder. Sonder operates properties in 41 cities across nine countries on three continents. The legal advisory team from Ropes & Gray was spearheaded by finance partner Nitin Konchady and capital markets partner Christopher Capuzzi.
Sectors
- Hospitality
- Finance
- Legal Services
Geography
- United States – Sonder Holdings Inc. is listed under the Nasdaq stock exchange, based in the U.S., and Ropes & Gray is a U.S.-based law firm.
- Global – Sonder Holdings operates in 41 cities across nine countries, indicating a global presence.
Industry
- Hospitality – Sonder Holdings Inc. operates in the hospitality industry, providing premium apartments and boutique hotels.
- Finance – The transaction involves financing and investment activities, typical of the finance sector.
- Legal Services – Ropes & Gray, a law firm, provided legal advisory for the transaction.
Financials
- Not specified – The specific financial terms of the investment involving senior secured notes and warrants were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Polar Asset Management Partners | Investor | Company | An investment management firm that invested in Sonder Holdings via senior secured notes and warrants. |
| Sonder Holdings Inc. | Target Company | Company | A leading brand in premium apartments and boutique hotels with a global presence. |
| Ropes & Gray | Legal Advisor | Company | A law firm providing legal advisory services for the transaction. |
| Nitin Konchady | Finance Partner | Person | Led the deal team at Ropes & Gray for Polar Asset Management. |
| Christopher Capuzzi | Capital Markets Partner | Person | Co-led the deal team at Ropes & Gray alongside Nitin Konchady. |