Sonder Holdings Inc. Receives Notification Of Deficiency From Nasdaq Related To Delayed Filing Of Annual Report On Form 10-K
Portfolio Pulse from Benzinga Newsdesk
Sonder Holdings Inc. (NASDAQ:SOND) received a deficiency notification from Nasdaq for not filing its Annual Report on Form 10-K for the year ended December 31, 2023, on time. The company has 60 days to submit a compliance plan to regain compliance with Nasdaq Listing Rule 5250(c)(1), with a possible extension of up to 180 days. Sonder intends to submit this plan and work diligently to file the overdue report as soon as practicable.
April 05, 2024 | 8:06 pm
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NEGATIVE IMPACT
Sonder Holdings Inc. received a Nasdaq deficiency notice for not timely filing its 2023 Annual Report, risking non-compliance with Nasdaq Listing Rule 5250(c)(1).
Receiving a deficiency notice from Nasdaq typically has a negative impact on investor confidence and can lead to a decrease in stock price in the short term. The urgency and seriousness of regaining compliance underscore the potential negative implications for Sonder's stock. However, the company's commitment to submitting a compliance plan and completing the filing as soon as practicable may mitigate some concerns.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100