Sobr Safe Inc’s (NYSE:SOBR) shares tumbled in after-hours trading on Wednesday after the company announced a discounted warrant exercise expected to raise approximately $3.1 million in gross proceeds.
SOBR Safe closed Wednesday’s regular session at $2.07, up 76.92%. In after-hours trading, the stock fell 51.21% to $1.01.
SOBR Safe develops touch-based alcohol detection and monitoring technology for the behavioral health, family law and consumer markets.
$3.1 Million Warrant Exercise
SOBR Safe announced definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to nearly 2.4 million shares that were originally issued in December 2025.
The warrants, which previously carried an exercise price of $1.30 per share, will be exercised at a reduced price of $1.05 per share. In exchange, the company will issue new unregistered Series E and Series F warrants, each covering up to almost 2.4 million shares with an exercise price of $1.30 per share.
The transaction is expected to generate approximately $3.1 million in gross proceeds before placement agent fees and other offering expenses. SOBR Safe said it intends to use the net proceeds for working capital and general corporate purposes. The offering is expected to close on or about July 16, subject to customary closing conditions.
The company said the financing strengthens its balance sheet as it supports its proposed merger and efforts to regain Nasdaq listing compliance.
Trading Metrics
SOBR Safe has a market capitalization of approximately $5.81 million, with a 52-week high of $4.50 and a 52-week low of $0.36.
Over the past 12 months, SOBR shares have declined 47.59%.
Benzinga Edge Stock Rankings indicate SOBR has a positive price trend over the short and medium term but a negative long-term price trend.
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