SOBR Safe Issues 1.29M Shares, Raises Approximately $2.0M

SOBR Safe announced that it has entered into definitive agreements for the issuance and sale of 1.29M shares of its common stock, Series C warrants to purchase up to an aggregate of 1.29M shares of common stock and Series D warrants to purchase up to an aggregate of 1.29M shares of common stock, at a purchase price of $1.55 per share and associated warrants in a private placement priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $1.30 per share and will be exercisable immediately upon issuance. The Series C warrants will expire five years after the effective date of the resale registration statement and the Series D warrants will expire twenty-four months after the effective date of the resale registration statement. The aggregate gross proceeds to the company from the offering are expected to be approximately $2.0M, before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.