NetworkNewsBreaks – SOBR Safe Inc. (NASDAQ: SOBR
Post# of 112
(Total Views: 72)
Posted On: 06/07/2024 5:11:10 PM
NetworkNewsBreaks – SOBR Safe Inc. (NASDAQ: SOBR) Strengthens Balance Sheet and Eliminates Debt through Exercise of Warrants, Conversion of Notes
SOBRsafe (NASDAQ: SOBR), a provider of next-generation, transdermal alcohol-detection solutions, has received an estimated $2.8 million in gross proceeds from the exercise of warrants while also settling its remaining debt balances through the conversion of outstanding notes payable into 4,358,957 shares of common stock. The company is focused on strengthening its balance sheet and working to regain compliance with the NASDAQ market. “These are very positive developments for the future of SOBRsafe,” said SOBRsafe CEO and chair Dave Gandini in the press release. “We have significantly strengthened our balance sheet with both this infusion of capital and elimination of $2.6 million in debt, which alleviates future cash payments. Moreover, we have increased our prospective equity balances consistent with our plan to regain the company’s NASDAQ listing compliance. We continue to build flexibility into our capital structure and believe we are now better positioned for accelerated growth.”
NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at https://nnw.fm/SOBR
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
SOBRsafe (NASDAQ: SOBR), a provider of next-generation, transdermal alcohol-detection solutions, has received an estimated $2.8 million in gross proceeds from the exercise of warrants while also settling its remaining debt balances through the conversion of outstanding notes payable into 4,358,957 shares of common stock. The company is focused on strengthening its balance sheet and working to regain compliance with the NASDAQ market. “These are very positive developments for the future of SOBRsafe,” said SOBRsafe CEO and chair Dave Gandini in the press release. “We have significantly strengthened our balance sheet with both this infusion of capital and elimination of $2.6 million in debt, which alleviates future cash payments. Moreover, we have increased our prospective equity balances consistent with our plan to regain the company’s NASDAQ listing compliance. We continue to build flexibility into our capital structure and believe we are now better positioned for accelerated growth.”
NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at https://nnw.fm/SOBR
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
(0)
(0)SOBR SAFE INC. (SOBR) Stock Research Links
Scroll down for more posts ▼