Shearman & Sterling represented BofA Securities and Stifel as placement agents in connection with the private placement made to institutional investors by Sonendo. The private placement consisted of 23,045,536 shares of common stock and pre-funded warrants to purchase 43,315,846 shares of common stock, resulting in aggregate gross proceeds to Sonendo of approximately $63 million.
Sonendo is a commercial-stage medical technology company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. Sonendo’s products include the GentleWave System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. In addition, Sonendo offers practice management software to enable an integrated digital office for dental practitioners.