Sonder Holdings (SOND) receives Nasdaq notice of deficiency on delayed 10-Q

Sonder Holdings Inc. (NASDAQ: SOND) (“Sonder” or the “Company”) today announced that it received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on May 23, 2025 (the "Notice"). The Notice indicated that the Company continues to not be in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the “Q1 2025 Form 10-Q”), as described more fully in the Company's Form 12b-25 Notification of Late Filing (the “Form 12b-25”) filed with the Securities and Exchange Commission (the "SEC") on May 15, 2025. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.

The Company previously received a notice on April 24, 2025 from Nasdaq (the “Previous Notice”) notifying the Company that it no longer complied with the Listing Rule due to the Company’s delinquency in filing the Annual Report on Form 10-K for the annual period ended December 31, 2024 (the “2024 Form 10-K”).

In accordance with Nasdaq’s listing rules, the Company has 60 calendar days from the Previous Notice to submit a plan to regain compliance with the Listing Rule. Following receipt of such plan, Nasdaq may grant an extension of up to 180 calendar days from the due date of the 2024 Form 10-K, or until October 13, 2025, for the Company to regain compliance. The Company intends to submit a compliance plan to Nasdaq and take the necessary steps to regain compliance with Nasdaq’s listing rules as soon as practicable.

As previously disclosed, the filing of the Q1 2025 Form 10-Q was delayed due to the matters described in the Form 12b-25, including to allow the Company sufficient time to complete its customary accounting and internal control processes and procedures. While the Company can provide no assurances as to timing, the Company will continue to work diligently to complete and file the 2024 Form 10-K and the Q1 2025 Form 10-Q as soon as practicable.

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