secwatch.observer — SEC 8-K summary
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Issuer:     SOBR Safe, Inc. (SOBR)
CIK:        0001425627
Form:       8-K
Filed at:   2024-10-10T23:59:59+00:00
Accession:  0001477932-24-006351
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

SOBR Safe flagged for insufficient publicly held shares after reverse split; private placement to cure
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- Nasdaq notified SOBR on Oct 4, 2024 that publicly held shares (285,611) fall below 500,000 minimum.
- 1-for-110 reverse split on Oct 2 reduced outstanding shares from 34,764,593 to 316,042.
- Closed $8.2M private placement on Oct 9, issuing 2,024,691 units; expects to regain compliance with float and equity rules.
- Company already under exception until Oct 23, 2024 for bid price and equity deficiencies; hearing panel to review float issue by Oct 11.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425627/000147793224006351/0001477932-24-006351-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425627/000147793224006351/sobr_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-006351

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