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SOBRsafe Announces Reverse Stock Split

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SOBRsafe (NASDAQ:SOBR) has announced a 1-for-10 reverse stock split of its common stock, effective April 4, 2025. The split will reduce outstanding shares from approximately 15,161,445 to 1,516,145 shares. Trading will continue under the symbol 'SOBR' with a new CUSIP number 833592 405.

The reverse split, approved by shareholders on December 9, 2024, will apply equally to all outstanding shares, with stockholders maintaining their same percentage ownership except for minor adjustments from fractional shares. Fractional shares will be rounded up to the nearest whole number. All securities including warrants and equity compensation awards will be proportionately adjusted.

Equiniti Trust Company is serving as the exchange agent. Stockholders with electronic book-entry shares require no action, while those holding certificates will receive instructions for exchanging their shares.

SOBRsafe (NASDAQ:SOBR) ha annunciato un frazionamento azionario inverso 1-per-10 delle sue azioni ordinarie, che sarà efficace dal 4 aprile 2025. Questo frazionamento ridurrà le azioni in circolazione da circa 15.161.445 a 1.516.145 azioni. Il trading continuerà sotto il simbolo 'SOBR' con un nuovo numero CUSIP 833592 405.

Il frazionamento inverso, approvato dagli azionisti il 9 dicembre 2024, si applicherà in modo uniforme a tutte le azioni in circolazione, con gli azionisti che manterranno la stessa percentuale di proprietà, eccetto per piccoli aggiustamenti derivanti da azioni frazionarie. Le azioni frazionarie saranno arrotondate al numero intero più vicino. Tutti i titoli, inclusi i warrant e i premi di compensazione azionaria, saranno adeguati proporzionalmente.

Equiniti Trust Company funge da agente di cambio. Gli azionisti con azioni in forma elettronica non devono intraprendere alcuna azione, mentre coloro che detengono certificati riceveranno istruzioni per lo scambio delle loro azioni.

SOBRsafe (NASDAQ:SOBR) ha anunciado un desdoblamiento de acciones inverso de 1 por 10 de sus acciones ordinarias, que entrará en vigor el 4 de abril de 2025. Este desdoblamiento reducirá las acciones en circulación de aproximadamente 15,161,445 a 1,516,145 acciones. La negociación continuará bajo el símbolo 'SOBR' con un nuevo número CUSIP 833592 405.

El desdoblamiento inverso, aprobado por los accionistas el 9 de diciembre de 2024, se aplicará de manera uniforme a todas las acciones en circulación, manteniendo los accionistas el mismo porcentaje de propiedad, excepto por pequeños ajustes de las acciones fraccionarias. Las acciones fraccionarias se redondearán al número entero más cercano. Todos los valores, incluidos los warrants y las compensaciones en acciones, se ajustarán proporcionalmente.

Equiniti Trust Company actúa como agente de cambio. Los accionistas con acciones en forma de libro electrónico no requieren ninguna acción, mientras que aquellos que poseen certificados recibirán instrucciones para el intercambio de sus acciones.

SOBRsafe (NASDAQ:SOBR)는 2025년 4월 4일부터 시행되는 1대 10 비율의 주식 병합을 발표했습니다. 이 병합은 발행 주식을 약 15,161,445주에서 1,516,145주로 줄입니다. 거래는 'SOBR' 기호로 계속 진행됩니다 새로운 CUSIP 번호 833592 405와 함께.

2024년 12월 9일 주주들에 의해 승인된 이번 비율 변경은 모든 발행 주식에 동일하게 적용되며, 주주들은 소수점 이하 주식의 소규모 조정 외에는 동일한 소유 비율을 유지합니다. 소수점 이하 주식은 가장 가까운 정수로 반올림됩니다. 모든 증권, 포함하여 워런트 및 주식 보상 수당은 비례적으로 조정됩니다.

Equiniti Trust Company가 교환 대행사로 활동하고 있습니다. 전자 장부 주식을 보유한 주주는 별도의 조치를 취할 필요가 없으며, 증서를 보유한 주주는 자신의 주식을 교환하기 위한 지침을 받게 됩니다.

SOBRsafe (NASDAQ:SOBR) a annoncé un regroupement d'actions inversé de 1 pour 10 de ses actions ordinaires, qui entrera en vigueur le 4 avril 2025. Ce regroupement réduira le nombre d'actions en circulation d'environ 15 161 445 à 1 516 145 actions. La négociation continuera sous le symbole 'SOBR' avec un nouveau numéro CUSIP 833592 405.

Le regroupement inversé, approuvé par les actionnaires le 9 décembre 2024, s'appliquera de manière égale à toutes les actions en circulation, les actionnaires conservant leur même pourcentage de propriété, sauf pour de petits ajustements dus aux actions fractionnaires. Les actions fractionnaires seront arrondies au nombre entier le plus proche. Tous les titres, y compris les warrants et les attributions d'actions, seront ajustés proportionnellement.

Equiniti Trust Company agit en tant qu'agent d'échange. Les actionnaires avec des actions en entrée de livre électronique n'ont besoin d'aucune action, tandis que ceux détenant des certificats recevront des instructions pour échanger leurs actions.

SOBRsafe (NASDAQ:SOBR) hat einen 1-zu-10 Rücksplit der Stammaktien angekündigt, der am 4. April 2025 in Kraft tritt. Der Split wird die ausstehenden Aktien von etwa 15.161.445 auf 1.516.145 Aktien reduzieren. Der Handel wird weiterhin unter dem Symbol 'SOBR' mit einer neuen CUSIP-Nummer 833592 405 stattfinden.

Der Rücksplit, der am 9. Dezember 2024 von den Aktionären genehmigt wurde, gilt für alle ausstehenden Aktien, wobei die Aktionäre ihren gleichen prozentualen Anteil behalten, abgesehen von kleinen Anpassungen bei Bruchstücken. Bruchstückaktien werden auf die nächste ganze Zahl aufgerundet. Alle Wertpapiere, einschließlich Warrants und Aktienvergütungen, werden proportional angepasst.

Equiniti Trust Company fungiert als Austauschagent. Aktionäre mit elektronischen Buchaktien müssen keine Maßnahmen ergreifen, während diejenigen, die Zertifikate halten, Anweisungen zum Austausch ihrer Aktien erhalten.

Positive
  • Reverse split may help maintain NASDAQ listing compliance
  • Stockholders maintain same percentage ownership post-split
Negative
  • Reverse stock split indicates potential concerns about maintaining NASDAQ listing requirements
  • Significant reduction in total outstanding shares may impact stock liquidity

Insights

SOBRsafe's announced 1-for-10 reverse stock split represents a significant capital structure adjustment that will mechanically reduce outstanding shares from 15.16 million to 1.52 million while proportionally increasing the share price. With the current trading price at $0.47, this adjustment would theoretically increase the share price to approximately $4.70 post-split, though market dynamics ultimately determine actual trading prices.

While the announcement doesn't explicitly state the motivation, reverse splits are commonly implemented when companies need to boost their share price to maintain compliance with exchange listing requirements - NASDAQ typically requires minimum bid prices of $1.00 per share. This action preserves SOBRsafe's ability to remain listed on NASDAQ, maintaining access to capital markets and institutional investors.

From a technical perspective: (1) all ownership percentages remain unchanged immediately post-split, (2) fractional shares will be rounded up, slightly benefiting small shareholders, and (3) all securities like warrants and equity compensation will be proportionally adjusted.

It's important to understand that this maneuver doesn't change the company's underlying market capitalization, business operations, or the proportional ownership stake of existing shareholders. However, empirical market evidence shows stocks commonly experience volatility following reverse splits unless accompanied by fundamental business improvements or clear strategic initiatives.

For current investors, this represents a technical adjustment requiring minimal action, particularly for those holding shares in electronic form. The split becomes effective April 4, 2025, with trading on a post-split basis beginning that same day.

DENVER, CO / ACCESS Newswire / April 2, 2025 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe"), provider of next-generation transdermal alcohol detection solutions, today announced that it will proceed with a 1-for-10 reverse stock split ("Reverse Stock Split") of its outstanding shares of common stock (the "Common Stock") following approval by its board of directors. This ratio is within the range approved by stockholders at the annual meeting of SOBRsafe's shareholders held on December 9, 2024.

The Reverse Stock Split is expected to become effective at 12:01 a.m., Eastern Time, on April 4, 2025. SOBRsafe expects the Common Stock will begin trading on a post-split basis at the market open on April 4, 2025, under the existing symbol "SOBR" with the new CUSIP number 833592 405.

When the Reverse Stock Split is effective, every ten shares of the Common Stock issued and outstanding will be combined automatically into one share of Common Stock. This will reduce the number of issued and outstanding shares of common stock from approximately 15,161,445 shares to approximately 1,516,145 shares. The Reverse Stock Split will apply equally to all outstanding shares of Common Stock, and each stockholder will hold the same percentage of Common Stock outstanding immediately following the Reverse Stock Split, except for minor adjustments that may result from the treatment of fractional shares. No fractional shares will be issued in connection with the Reverse Stock Split. With respect to any fractional shares, fractional amounts will be rounded up to the nearest whole number with post-split shares issuable to any shareholder who would otherwise be entitled to receive a fractional post-split share. Additionally, all common shares equivalent securities including warrants and equity compensation awards outstanding immediately prior to the Reverse Stock Split will be proportionately adjusted.

Equiniti Trust Company, LLC ("Equiniti") is acting as the exchange agent and transfer agent for the Reverse Stock Split.

Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders holding certificated shares will receive a transmittal letter from Equiniti as soon as practicable after the Reverse Stock Split is affected. The transmittal letter will be accompanied by instructions specifying how you can exchange your certificate or certificates representing the pre-Reverse Stock Split shares of Common Stock for a statement of ownership. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the Reverse Stock Split.

Additional information about the Reverse Stock Split can be found in SOBRsafe's definitive proxy statement (Form DEF 14A) filed with the U.S. Securities and Exchange Commission (the "SEC") on November 15, 2024.

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About SOBRsafe™

Through next-generation alcohol detection technology, we enable trust and empower recovery ... with a human touch. SOBRsafe's advanced transdermal (touch-based) technology detects and reports in real-time the presence of alcohol as emitted through a user's skin - no breath, blood, or urine samples are required. With a powerful backend data platform, SOBRsafe provides passive, dignified screening and monitoring solutions for the behavioral health, family law and consumer markets, and for licensing and integration. To learn more, visit www.sobrsafe.com.

Contact SOBRsafe:
IR@sobrsafe.com

Safe Harbor Statement

Our prospects here at SOBRsafe are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.

SOURCE: SOBR Safe, Inc.



View the original press release on ACCESS Newswire

FAQ

What is the ratio of SOBRsafe's reverse stock split announced for April 2025?

SOBRsafe announced a 1-for-10 reverse stock split, meaning every 10 shares will be combined into 1 share.

How many shares will SOBR have outstanding after the April 2025 reverse split?

After the reverse split, SOBR's outstanding shares will reduce from approximately 15,161,445 to 1,516,145 shares.

When will SOBRsafe's reverse stock split take effect?

The reverse stock split will become effective at 12:01 a.m., Eastern Time, on April 4, 2025.

How will SOBRsafe handle fractional shares in the reverse split?

Fractional shares will be rounded up to the nearest whole number, with post-split shares issued to affected shareholders.

What actions do SOBRsafe shareholders need to take for the reverse split?

Electronic book-entry holders need no action; certificate holders will receive instructions from Equiniti Trust Company for exchanging shares.
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