SOBR Safe induces conversion of $804K convertible notes at $0.62/sh; warrant strike also reduced

SOBR Safe, Inc.

Holders converted ~$804K principal (25% of total Senior Convertible Notes) at reduced price of $0.62/share.
Exercise price of existing warrants permanently lowered to $0.62/share concurrent with conversion.
Company restricted from filing registration statements or conducting future financing until April 1, 2024.
Conversion shares are Rule 144 eligible; warrant shares already registered on Form S-1.

item 1.01 item 9.01

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 Inducement Letters with holders of Senior Convertible Notes (effective 2024-03-04).

Action: entry
Agreement: notes offering
Counterparty: holders of Senior Convertible Notes
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, SOBR Safe, Inc. (the “Company”) entered into inducement offer letter agreements (the “Inducement Letters”) with each holder (collectively, the “Holders”, and, individually, a “Holder”) of the Company’s Senior Convertible Notes issued on March 9, 2023 (the “Applicable Notes”).

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737 material agreements filed in the last 30 days. Browse all material agreements →

SOBR Safe, Inc. filing history →

Source: SEC EDGAR

accession 0001477932-24-001018

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