Sonder Holdings Inc. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
SAN FRANCISCO--(BUSINESS WIRE)-- 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.
About Sonder
Sonder is a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler. Launched in 2014, Sonder offers inspiring, thoughtfully designed accommodations and innovative, tech-enabled service combined into one seamless experience. Sonder properties are found in prime locations in over 41 cities, spanning nine countries and three continents. The Sonder app gives guests control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.
To learn more, visit www.sonder.com or follow Sonder on Instagram, LinkedIn or X.
Download the Sonder app on Apple or Google Play.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potentially,' or 'will' or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to the Company's plans and expectations about the completion and filing of the periodic reports, its submission of a plan to regain compliance with respect to the Listing Rule, and the timing thereof. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including but not limited to, uncertainties about the timing of the Company's submission of a compliance plan, Nasdaq's acceptance of any such plan, the duration of any extension that may be granted by Nasdaq, the potential inability to meet Nasdaq's requirements, the Company's preparation of the periodic reports and the related financial statements, the possibility of additional delays in the filing of the periodic reports, and the other risks and uncertainties described in the Company's SEC reports and under the heading 'Risk Factors' in its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.
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SOMA GOLD INTERSECTS VENUS GAP VEIN AT DEPTH WITH 7.5 g/t Au OVER 6.0 m, EXTENDING ZONE BY 135 m
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The quartz veins form as laminated fault-fill veins within a sinistral brittle-ductile shear zone. They are interpreted as conjugate shears within a steeply dipping, north-striking regional shear zone. The controlling shear zone also hosts the Los Mangos Deposit, located 2.8 kilometres to the north. The quartz veins in the Cordero Deposit form a series of en echelon segments that consistently step to the right along strike. The veins have been repeatedly reactivated and exhibit three distinct phases of development: early barren quartz veins, sphalerite + galena + pyrite + gold mineralization controlled by microfractures, and brittle fracturing along the margins of the veins filled with quartz + pyrite + tellurides + gold. Gold mineralization occurs during the latter two phases of vein development. The final stage of brittle fracturing and micro-breccia is commonly associated with 'bonanza' gold grades. Subsequently, the veins are crosscut by aphanitic mafic dykes and numerous brittle faults. The brittle faults are generally dextral and offset the quartz veins from <1.0m to 10s of metres. The late brittle faults commonly dismember the mineralized veins into short strike-length segments, the continuity of which is difficult to discern from drill data. The Cordero Deposit is informally divided into five main zones: Athenas, Cordero, Venus, Venus Gap, and Victoria Ramp zones (Figure 2). Table 1: Composited assay results from the lower Venus Gap ZoneTable 1 Composited assay results from Lower Venus Gap Zone Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) RVICDDH-24-030 158.8 160.3 1.5 6.4 17.7 including 159.7 160.3 0.6 15.9 42.9 RVICDDH-24-031 141.5 143.7 2.2 6.7 8.4 including 141.5 142.3 0.8 7.3 6.9 including 142.3 142.7 0.4 14.9 23.0 RVICDDH-25-032 184 185.65 1.65 9.2 15.7 including 184 184.6 0.6 18.8 30.3 RVICDDH-25-034 154.45 156.55 2.1 11.9 31.8 including 154.45 155.1 0.65 32.5 92.1 RVICDDH-25-035 193 194.7 1.7 3.6 4.7 including 194 194.7 0.7 6.5 7.9 RVICDDH-25-036 204.1 205.1 1 1.4 1.9 RVICDDH-25-037 no significant results RVICDDH-25-038 no significant results RVICDDH-25-039 138.9 140.2 1.3 0.5 1.3 RVICDDH-25-040 176.6 182.6 6 7.5 10.2 including 177.25 177.9 0.65 9.3 21.4 including 180.05 180.55 0.5 67.8 39.7 RVICDDH-25-041 no significant results RVICDDH-25-042 169.4 172 2.6 6.7 9.9 including 171.4 172 0.6 19.5 33.8 Note: all intervals are presented as drilled width. 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Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements. SOURCE Soma Gold Corp. 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