SOBR Safe Files 8-K for Material Agreement
Ticker: SOBR · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1425627
| Field | Detail |
|---|---|
| Company | Sobr Safe, Inc. (SOBR) |
| Form Type | 8-K |
| Filed Date | Mar 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.62, $804,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing, exhibits
TL;DR
SOBR Safe filed an 8-K for a new deal, details to follow.
AI Summary
SOBR Safe, Inc. filed an 8-K on March 5, 2024, to report the entry into a material definitive agreement and to file financial statements and exhibits. The filing does not detail the specific agreement or financial figures within the provided text.
Why It Matters
This filing indicates a significant business development for SOBR Safe, Inc., potentially impacting its operations and financial standing.
Risk Assessment
Risk Level: medium — The filing itself is routine, but the lack of specific details about the material agreement introduces uncertainty.
Key Players & Entities
- SOBR Safe, Inc. (company) — Registrant
- March 5, 2024 (date) — Filing Date
- Delaware (jurisdiction) — State of Incorporation
- Greenwood Village, Colorado (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by SOBR Safe, Inc.?
The provided text of the 8-K filing does not specify the details of the material definitive agreement.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on March 5, 2024.
What is SOBR Safe, Inc.'s IRS Employer Identification Number?
SOBR Safe, Inc.'s IRS Employer Identification Number is 26-0731818.
What was SOBR Safe, Inc.'s former company name before its current incorporation?
SOBR Safe, Inc. was formerly known as TransBiotec, Inc. and prior to that, IMAGINE MEDIA LTD.
Where are SOBR Safe, Inc.'s principal executive offices located?
SOBR Safe, Inc.'s principal executive offices are located at 6400 S. Fiddlers Green Circle, Suite 1400, Greenwood Village, Colorado 80111.
Filing Stats: 678 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-03-05 09:43:40
Key Financial Figures
- $0.62 — at a reduced conversion price equal to $0.62 per share (such reduced conversion pric
- $804,000 — ers for the conversion of approximately $804,000 aggregate principal amount of the Appli
Filing Documents
- sobr_8k.htm (8-K) — 26KB
- sobr_ex101.htm (EX-10.1) — 23KB
- sobr_ex101img2.jpg (GRAPHIC) — 3KB
- 0001477932-24-001018.txt ( ) — 179KB
- sobr-20240305.xsd (EX-101.SCH) — 6KB
- sobr-20240305_lab.xml (EX-101.LAB) — 14KB
- sobr-20240305_cal.xml (EX-101.CAL) — 1KB
- sobr-20240305_pre.xml (EX-101.PRE) — 9KB
- sobr-20240305_def.xml (EX-101.DEF) — 2KB
- sobr_8k_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. 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"). Pursuant to the Inducement Letter, the Holders agreed to convert some or all of the Applicable Notes at a reduced conversion price equal to $0.62 per share (such reduced conversion price, the "Notes Conversion Price"). Simultaneously with the execution of the Inducement Letters, the Company received conversion notices from such Holders for the conversion of approximately $804,000 aggregate principal amount of the Applicable Notes, representing approximately 25% of the aggregate principal amount of the Applicable Notes. In connection with such conversion, the Notes Conversion Price was permanently reduced to $0.62. In addition, pursuant to the Inducement Letter, the exercise price in the Common Stock Purchase Warrants issued on March 9, 2023 (the "Applicable Warrants") currently held by Holders was permanently reduced to $0.62 per share (such reduced exercise price, the "Warrants Exercise Price"). The shares of common stock of the Company underlying the Applicable Notes (the "Conversion Shares") are eligible for resale pursuant to Rule 144 of the Securities Act. The shares of common stock of the Company underlying the Applicable Warrants ("Warrant Shares") have been registered for resale pursuant to a registration statement on Form S-1 (File No. 333-271247) (the "Registration Statement"). The Registration Statement is currently effective and, upon exercise of the Applicable Warrants with the reduced Warrants Exercise Price will be effective for the resale of the Warrant Shares. Neither this Current Report on Form 8-K nor any exhibit attached hereto is an offer to sell or the solicitation of an offer to buy the Compan
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Form of Inducement Letter 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOBR Safe, Inc. a Delaware corporation Dated: March 5, 2024 By: /s/ David Gandini David Gandini, Chief Executive Officer 3