Sonder Holdings Inc.: Nasdaq/NYSE listing notice — Sonder Holdings receives Nasdaq delisting notice for bid price below $1.00

Sonder Holdings Inc.

Received Nasdaq notice on April 21, 2023 for non-compliance with minimum bid price rule.
Stock bid price below $1.00 for 30 consecutive business days; no immediate effect on listing.
Has until October 18, 2023 to regain compliance by maintaining $1.00 closing bid for 10 consecutive days.
If not compliant by October 18, may transfer to Nasdaq Capital Market for additional 180-day period, subject to conditions.
Company considering reverse stock split to cure deficiency; no assurance of regaining compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Sonder Holdings Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

April 21, 2023, Sonder Holdings Inc. (the “ Company ”) received a notice from The Nasdaq Stock Market (“ Nasdaq ”) that the Company is not in compliance with Nasdaq’s Listing Rule 5450(a)(1), because the minimum bid price of the Company’s common stock has been below $1.00 per share for 30 consecutive business days (the “ Notice ”). The Notice has no immediate effect on the listing or trading of the Company’s common stock or warrants on The Nasdaq Global Select Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until October 18, 2023, to regain c

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Source: SEC EDGAR

accession 0001819395-23-000063

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