newsfilter
← Latest News
ACCESS Newswire·

SOBRsafe Announces Closing of Exercise of Warrants for $3.1 Million Gross Proceeds

SOBR
  • SOBR Safe, Inc. (NASDAQ: SOBR) closed its previously announced exercise of outstanding warrants to purchase 2,360,648 shares at $1.30 per share.
  • H.C. Wainwright & Co. served as the exclusive placement agent for the offering.
  • In exchange for the cash exercise, the Company issued unregistered Series E warrants for 2,580,648 shares (exercisable immediately, expiring five years after the Resale Registration Statement effective date) & unregistered Series F warrants for 2,140,648 shares (exercisable immediately, expiring 24 months after the Resale Registration Statement effective date).
  • Both new warrant series carry an exercise price of $1.30 per share.
  • The transaction generated approximately $3.1 million in aggregate gross proceeds before fees & expenses.
  • Net proceeds will be used for working capital & general corporate purposes.
  • The new warrants were issued in a private placement exempt from registration under the Securities Act of 1933.
  • SOBR Safe agreed to file a Resale Registration Statement with the SEC to cover the resale of shares issuable upon exercise of the new warrants.