Is sonm

NASDAQ delisting risk

Sonim Technologies (NASDAQ: SONM) is currently facing the risk of being delisted from the Nasdaq Stock Market. The company received a notice from the Listing Qualifications Department of Nasdaq on February 14, 2023, stating that it was not in compliance with the $1.00 bid price requirement for continued listing on The Nasdaq Capital Market. This notice indicates that Sonim's common stock is subject to delisting unless the company timely requests a hearing before a Nasdaq Hearings Panel to address the deficiency. Sonim has requested a hearing before the Panel, which will stay any further delisting action by the Staff at least pending the ultimate outcome of the hearing and the expiration of any extension that may be granted by the Panel. The company's common stock will remain listed and eligible for trading on Nasdaq at least pending the conclusion of the hearing process. At the hearing, Sonim will present its plan to evidence compliance with all applicable Nasdaq listing criteria.

In summary, Sonim Technologies is at risk of being delisted from Nasdaq due to non-compliance with the $1.00 bid price requirement. The company has requested a hearing to address the deficiency and will present a plan for compliance at the hearing. Pending the outcome of the hearing, Sonim's stock will remain listed on Nasdaq.