Apartment-style accommodations provider Sonder Holdings has received a delinquency notice from Nasdaq for the company’s failure to file a third-quarter earnings report with the U.S. Securities and Exchange Commission, the company announced Tuesday.
Sonder throughout 2024 has delayed filing financial reports after discovering “accounting errors related to the valuation and impairment of operating lease right of use assets and related items.” However, the company earlier this month did file reports for the first and second quarter, but in an SEC filing said the time required to do so necessitates a delay in compiling a third-quarter report.
Sonder in a statement said the company has 60 days from the Nasdaq’s Nov. 20 delinquency notice to submit a plan to regain compliance, whereupon Nasdaq could grant Sonder an extension to May 19, 2025, to do so.
Sonder “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,” according to the company.
Sonder CFO to Depart as Earnings Filings Updated, Investment Secured
