Company: SOBR
Filing Date: 2025-05-16
Form Type: 10-Q/A
Source: 0001477932-25-003898
Chunk: 25

Company: SOBR Safe, Inc.
Filing Date: 2025-05-16
Form: 10-Q/A
Chunk 25
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 Period and final determination of the Reset Exercise Price on the Reset Date, January 15, 2025, additional Series A and Series B Warrants may be issued.

On October 18, 2024, the Company received exercise notices from various institutional investors at a weighted-average exercise price of approximately $. In exchange for the issuance of shares of common stock the Company received net proceeds of $.

During December 2024, the Company received exercise notices from various institutional investors at a weighted-average exercise price of approximately $. In exchange for the issuance of shares of common stock the Company received net proceeds of $.

On January 15, 2025, the Reset Date for the Sereis A Warrants issued in the 2024 PIPE Offering, the final determination of the Reset Exercise Price was determined to be $ per share. Pursuant to the Reset Date and Reset Exercise Price, the exercise price for Sereis A Warrants in relation to the 2024 PIPE Offering, and the Common Stock Purchase Warrants issued on September 30, 2022 in relation to the 2022 PIPE Offering were permanently reduced to $ per share. The difference with respect to the adjusted warrant exercise prices is treated as a deemed dividend and a reduction in net income available to common shareholders.

During the three months ended March 31, 2025, the Company received exercise notices from various institutional investors at a weighted average exercise price of approximately $. In exchange for the issuance of shares of common stock, the Company received net proceeds of $.

The fair values of stock warrants granted during the three months ended March 31, 2025, were determined using the Monte Carlo simulation and Black-Scholes option pricing models based on the following assumptions:

|                         |     |   | March 31,2025 |   |     |            | March 31,2024 |   |
|:------------------------|:----|:--|--------------:|:--|:----|:-----------|--------------:|:--|
| Exercise price          |     | $ |          8.29 |   |     | $          |        682.00 |   |
| Dividend yield          |     |   |             0 | % |     |            |             0 | % |
| Volatility              |     |   |           146 | % |     | 147%-173   |               | % |
| Risk-free interest rate |     |   |          4.45 | % |     | 4.