Dental Tech Firm Sonendo Makes Its NYSE Debut

Sonendo Inc SONX, a medical device system for less-invasive root canal therapy, raised $94 million via an IPO by offering 7.8 million shares at $12, below the range of $15 to $17.
At pricing, the Company commands a fully diluted market value of $340 million.
The stock began trading today and opened at $9.00.
Sonendo says GentleWave System is the first and only FDA-cleared system for root canal therapy.
It uses a sterilized, single-use procedure instrument to treat tooth decay without removing tooth structure.
The Company states that the GentleWave System can also improve the workflow and economics of dental practices.
Sonendo began scaling commercialization of its current technology in 2017, and as of June 30, 2021, it had an installed base of over 700
GentleWave Systems and has treated more than 600,000 patients.
The Company has earmarked approximately $66.0 million to expand its commercial organization and increase our sales and marketing programs.
See the offer prospectus here.
Price Action: SONX shares are up 6.89% at $9.62 during the market session on the last check Friday.