Sonendo Receives Notice from NYSE Regarding Non-Compliance with Price Criteria

Sonendo, a leading dental technology company and developer of the GentleWave® System, announced that it has received a notice from the New York Stock Exchange (NYSE) regarding non-compliance with the exchange’s price criteria. The average closing price of Sonendo’s common stock over a consecutive 30 trading-day period was less than $1.00 per share, triggering the notice.

However, it’s important to note that the notice does not result in the immediate delisting of Sonendo’s common stock from the NYSE. The company has a six-month cure period to regain compliance with the minimum share price requirement. Sonendo intends to respond to the NYSE within 10 business days, expressing its intent to cure the deficiency.

During the cure period, if Sonendo achieves a closing share price of at least $1.00 on the last trading day of any calendar month and maintains an average closing share price of at least $1.00 over the preceding 30 trading-day period, it can regain compliance. Additionally, if the company determines that curing the stock price deficiency requires stockholder approval at its next annual meeting, the price condition will be deemed cured if the price promptly exceeds $1.00 per share and remains above that level for at least 30 trading days.

Sonendo reassures investors that the receipt of the notice does not impact its business, operations, or reporting requirements with the Securities and Exchange Commission (SEC). The company remains committed to its mission of saving teeth from tooth decay through its innovative GentleWave System, which offers improved clinical outcomes and minimal post-operative pain compared to conventional root canal therapy.

For more information about Sonendo and its GentleWave System, visit the company’s website at www.sonendo.com.