SOBR Safe closes $3.0M private placement of convertible notes and warrants to refinance maturing debt

SOBR Safe, Inc.

Issued $3.5M aggregate principal of convertible senior notes due 2025 with 15% original issue discount; conversion price $2.28/share.
Issued warrants to purchase ~0.38M shares at $2.52 per share, expiring March 2028.
Gross proceeds ~$3.0M; net proceeds used to replace ~$2.5M in maturing debt.
Aegis Capital Corp. acted as exclusive placement agent for the offering.
CEO David Gandini described financing as 'minimally dilutive' to accelerate technology enhancements and extend financial runway.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOBR Safe, Inc. entered into Purchase Agreement with institutional investors valued at aggregate of $3.5 million aggregate principal amount of convertible senior notes (effective 2023-03-07).

Action: entry
Agreement: notes offering
Counterparty: institutional investors
Value: aggregate of $3.5 million aggregate principal amount of convertible senior notes
Effective: 2023-03-07

Exact text from the filing

On March 7, 2023, SOBR Safe, Inc. (the " Company "), entered into a Purchase Agreement (the " Agreemen t") and Registration Rights Agreement (the " Registration Rights Agreement ") with institutional investors (" Purchasers ") and issued an aggregate of $3.5 million aggregate principal amount of convertible senior notes due in 2025 (the "Notes" ) and accompanying warrants (the "Warrants" ) to purchase approximately 0.38 million shares of Company common stock (the "Common Stock") for aggregate gross proceeds of approximately $3.0 million, before deducting fees to the placement agent and other expenses payable by the Company (the "Offering").

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SOBR Safe, Inc. filing history →

Source: SEC EDGAR

accession 0001477932-23-001461

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