Sonder Holdings Inc. Fails to File Quarterly Report
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Sonder Holdings Inc. Receives Notification of Deficiency from Nasdaq
Sonder Holdings Inc. (NASDAQ: SOND, "Sonder" or the "Company") announced that it received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq"). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. This was previously described in the Company's Form 12b-25 Notification of Late Filing filed with the Securities and Exchange Commission (the "SEC"). The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.
Submission Deadline for Compliance Plan
The Notice indicates that the Company has until a specified date to submit an update to its original plan to regain compliance with the Listing Rule concerning its delinquent filings, including the Q2 2024 Form 10-Q, the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, and the Annual Report on Form 10-K for the year ended December 31, 2023. The Company intends to promptly submit an updated compliance plan to Nasdaq and take the necessary steps to regain compliance with Nasdaq’s listing rules.
Delay in Filing Reports
As disclosed, the filing of the Quarterly Reports was delayed due to various matters outlined in the Company’s related Forms 12b-25 and the Company's Current Report on Form 8-K. While the Company cannot assure an exact timeline, it is committed to completing and filing the delayed SEC reports as soon as practicable.
About Sonder
Sonder (NASDAQ: SOND) is a global brand of premium, design-forward apartments and boutique hotels catering to the modern traveler. Since its launch in 2014, Sonder has been providing thoughtfully designed accommodations and innovative, tech-enabled service for a seamless experience. With properties across over 40 markets in ten countries, Sonder's app offers guests control over their stay with self-service features, simple check-ins, and 24/7 support.
Company Contacts
Media: press@sonder.com
Investor: ir@sonder.com
Frequently Asked Questions
What prompted the notification to Sonder from Nasdaq?
The notification was due to Sonder's failure to timely file its Quarterly Report on Form 10-Q.
What actions is Sonder taking in response to the deficiency notice?
Sonder intends to submit an updated compliance plan to regain adherence to Nasdaq’s listing rules.
How long does Sonder have to regain compliance?
The Company has a specified deadline to update its compliance plan regarding delinquent filings.
What factors contributed to the delayed filings of reports?
The delays arose from various matters previously disclosed in the Company’s Forms 12b-25 and the Current Report on Form 8-K.
Is Sonder planning to complete the delayed SEC reports?
Yes, the Company is working diligently to complete and file the delayed SEC reports as soon as possible.
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