Sonoma Pharmaceuticals (SNOA) Regains Nasdaq Compliance

Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) today announced that it received a formal determination letter from Nasdaq notifying Sonoma that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market and the matter is now closed.

As previously reported, On September 22, 2023, Sonoma received a letter from Nasdaq indicating that it did not comply with the $1.00 minimum closing bid price requirement for its common stock for continued listing on the Nasdaq Capital Market. On March 21, 2024, Nasdaq granted us an additional 180 calendar days, or until September 16, 2024, to regain compliance with the listing rule. Effective with the opening of the market on August 30, 2024, the company implemented a 1-for-20 reverse stock split. The closing bid price of Sonoma's common stock exceeded the required $1.00 per share minimum over the subsequent 10 business days. Accordingly, Sonoma has regained compliance and is no longer subject to delisting at this time.

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