Why SOBR Safe Shares Are Getting Obliterated Thursday

SOBR Safe Inc SOBR shares are trading lower by 32.79% to $1.66 Thursday morning after the company announced pricing of a $6 million private placement priced at-the-market.

What Else?

The offering is expected to close on or about September 30th, subject to the satisfaction of customary closing conditions.

In connection with the offering, the company will issue 4,054,055 units and pre-funded units at a purchase price of $1.48 per unit priced at-the-market under Nasdaq rules.

Each unit and pre-funded unit consist of one share of common stock (or common stock equivalent) and one non-tradable warrant exercisable for one share of common stock at a price of $1.35. The warrants have a term of seven years from the issuance date.

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According to data from Benzinga Pro, SOBR Safe has a 52-week high of $15.00 and a 52-week low of $0.80.