Company: SOBR
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002746
Chunk: 296

Company: SOBR Safe, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 296
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 issued on June 4, 2024, were reduced to $47.40 per share effective October 10, 2024.    ➢On October 7, 2024, the Company entered into a private placement transaction with certain institutional investors for gross proceeds of $8.2 million (“Private Placement”). As part of the Private Placement, the Company issued an aggregate of 202,470 units at a purchase price of $40.50 per unit, each Unit consisting of (i) one share of common stock of the Company, or one pre-funded warrant in lieu thereof, (ii) two Series A Warrants, each to purchase one share of common stock at an exercise price of $38 per share, and (iii) one Series B Warrant to purchase such number of shares of common stock as will be determined on the Reset Date. The Series A and Series B Warrants are exercisable beginning on the date that stockholder approval is obtained. Upon closing of the Private Placement, the Company issued 41,469 common shares and 161,000 pre-funded warrants. Following the Private Placement transaction and pursuant to the down-round provisions within the warrant agreements, the exercise price of the Common Share Purchase Warrants issued in September 2022 were reduced to $38 per share effective October 8, 2024.    ➢On October 18, 2024, the Company received exercise notices from various institutional investors at a weighted-average exercise price of approximately $47.30. In exchange for the issuance of 19,110 shares of common stock the Company received net proceeds of $902,541.    ➢On October 30, 2024, the Company received a Determination Letter from the Nasdaq Listings Panel confirming that the Company had successfully regained compliance with the Bid Price Requirement in Listing Rule 5550(a)(2), the Minimum Float Requirement in Listing Rule 5550(a)(4), and the Stockholders’ Equity Rule in Listing 5550(b)(1), as required by the Hearing Pane’s decision dated August 5, 2024.    ➢The Company’s second generation SOBRsure device became available for commercial sale to enterprise customers and consumers in November 2024.    ➢During December 2024, the Company received exercise notices from various institutional investors at a weighted-average exercise price of approximately $9.60. In exchange for the issuance of 162,129 shares of common stock the Company received net proceeds of $1