The New York Stock Exchange (NYSE) has notified Sonendo, the developer of the GentleWave root canal disinfection system, that it has suspended the trading of its common stock and has begun delisting proceedings, effective November 22.
The company was suspended because it didn’t comply with a standard requiring listed companies to maintain an average global market capitalization of at least $15 million over a consecutive 30-trading-day period. Sonendo’s board and management plan to take all advisable actions to maintain its listing and will appeal the NYSE’s decision, it said in a press release.
Due to the NYSE suspension, Sonendo has applied to trade its stock on the OTCQX Best Market and began trading on this market under the symbol “SONX” on November 22.
