Friday, October 29, 2021

Sonendo Prices IPO, Starts Trading Today

Laguna Hills-based dental technology developer Sonendo priced its IPO late last night, saying that it will sell 7,800,000 shares of its common stock at $12.00 per share, which will provide the company total gross proceeds of $93.6M. The company is expected to start trading today on the New York Stock Exchange as SONX. The IPO was underwritten by BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler & Co., along with Stifel, Nicolaus & Company, Incorporated. Sonendo develops systems which are used for cleaning and disinfection during root canal procedures. Sonendo's backers include General Atlantic, OrbiMed, Meritech Capital, and EW Healthcare.