Sonendo, Inc. announced a private placement of 23,045,536 common shares at a price of $0.95 per common shares for gross proceeds of $21,893,259 and 43,315,846 pre funded warrants at a price of $0.949 per pre-funded warrant for gross proceeds of $41,106,737 for total gross proceeds of $62,999,997 on September 23, 2022. The transaction will include participation from new investors Pura Vida Investments, LLC, First Light Asset Management, LLC, returning investor ArrowMark Colorado Holdings, LLC, Blue Water Life Science Advisors, Driehaus Capital Management, and JMR Capital. The Pre-Funded Warrants will have an exercise price of $0.001 per share of common stock, be immediately exercisable and remain exercisable until exercised in full.

The transaction is expected to close on or about September 27, 2022, subject to the satisfaction of customary closing conditions. The securities to be sold in the transaction have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.