SOBRsafe Announces Reverse Stock Split
SOBRsafe (NASDAQ:SOBR) has announced a 1-for-110 reverse stock split of its common stock, effective October 2, 2024. The primary goal is to increase the per share market price to regain compliance with Nasdaq's minimum bid price requirement. When effective, every 110 shares will be combined into one share, with no fractional shares issued. The stock will continue trading under the symbol 'SOBR' with a new CUSIP number. Equiniti Trust Company is acting as the exchange agent and transfer agent. Stockholders with book-entry shares don't need to take action, while those with certificated shares will receive instructions from Equiniti. The split applies equally to all outstanding shares and common share equivalent securities.
SOBRsafe (NASDAQ:SOBR) ha annunciato uno split azionario inverso 1-per-110 delle sue azioni ordinarie, che entrerà in vigore il 2 ottobre 2024. L'obiettivo principale è quello di aumentare il prezzo di mercato per azione al fine di ripristinare la conformità con il requisito del prezzo minimo dell'offerta di Nasdaq. Quando entrerà in vigore, ogni 110 azioni saranno unite in una sola azione, senza emissione di azioni frazionarie. Le azioni continueranno a essere scambiate con il simbolo 'SOBR' e un nuovo numero CUSIP. Equiniti Trust Company funge da agente per lo scambio e agente di trasferimento. Gli azionisti con azioni registrate non devono intraprendere alcuna azione, mentre coloro che possiedono azioni cartacee riceveranno istruzioni da Equiniti. Lo split si applica ugualmente a tutte le azioni in circolazione e ai titoli equivalenti a quelle ordinarie.
SOBRsafe (NASDAQ:SOBR) ha anunciado un acuerdo de división de acciones inversa 1 por 110 de sus acciones ordinarias, que entrará en vigor el 2 de octubre de 2024. El objetivo principal es aumentar el precio de mercado por acción para recuperar la conformidad con el requisito de precio mínimo de oferta de Nasdaq. Cuando esté en vigor, cada 110 acciones se combinarán en una sola acción, sin emitir acciones fraccionarias. Las acciones continuarán cotizando bajo el símbolo 'SOBR' con un nuevo número CUSIP. Equiniti Trust Company actúa como agente de cambio y agente de transferencia. Los accionistas con acciones registradas no necesitan tomar ninguna medida, mientras que aquellos con acciones certificadas recibirán instrucciones de Equiniti. La división se aplica por igual a todas las acciones en circulación y a los valores equivalente de acciones ordinarias.
SOBRsafe (NASDAQ:SOBR)는 2024년 10월 2일부터 시행되는 1:110 비례 분할 주식 스플릿을 발표했습니다. 주된 목표는 주당 시장 가격을 높여 Nasdaq의 최소 매도 가격 요건을 충족하는 것입니다. 효력이 발생하면 110주가 하나의 주식으로 합쳐지며, 분할 주식은 발행되지 않습니다. 주식은 'SOBR' 기호로 계속 거래되며 새로운 CUSIP 번호가 부여됩니다. Equiniti Trust Company는 교환 에이전트 및 이전 에이전트로 활동하고 있습니다. 전자 등록된 주식을 보유한 주주들은 조치를 취할 필요가 없으며, 증명서 형태의 주식을 보유한 이들은 Equiniti로부터 지침을 받게 됩니다. 이분할은 모든 자본금 주식과 일반 주식에 해당하는 증권에 고르게 적용됩니다.
SOBRsafe (NASDAQ:SOBR) a annoncé un regroupement d'actions inversé 1 pour 110 de ses actions ordinaires, qui prendra effet le 2 octobre 2024. L'objectif principal est d'augmenter le prix du marché par action afin de récupérer la conformité avec l'exigence de prix minimum d'offre de Nasdaq. Lorsque cela sera effectif, chaque 110 actions seront regroupées en une seule action, sans émission d'actions fractionnaires. Les actions continueront d'être négociées sous le symbole 'SOBR' avec un nouveau numéro CUSIP. Equiniti Trust Company agit en tant qu'agent d'échange et agent de transfert. Les actionnaires ayant des actions enregistrées n'ont pas besoin de prendre de mesures, tandis que ceux détenant des actions sous certificat recevront des instructions d'Equiniti. Le regroupement s'applique également à toutes les actions en circulation et aux titres équivalents d'actions ordinaires.
SOBRsafe (NASDAQ:SOBR) hat einen 1-zu-110 Umkehraktien-Split seiner Stammaktien angekündigt, der am 2. Oktober 2024 in Kraft tritt. Das Hauptziel besteht darin, den Marktpreis pro Aktie zu erhöhen, um die Einhaltung der Mindestgebotsanforderung von Nasdaq wiederherzustellen. Nach Inkrafttreten werden jeweils 110 Aktien zu einer Aktie zusammengelegt, ohne dass Bruchstücke von Aktien ausgegeben werden. Die Aktien werden weiterhin unter dem Symbol 'SOBR' mit einer neuen CUSIP-Nummer gehandelt. Equiniti Trust Company fungiert als Austausch- und Transferagent. Aktionäre mit Buchwert-Anteilen müssen keine Maßnahmen ergreifen, während diejenigen mit bescheinigten Aktien Anweisungen von Equiniti erhalten. Der Split gilt gleichermaßen für alle ausgegebenen Aktien und Aktienäquivalente.
- Potential to regain compliance with Nasdaq's minimum bid price requirement
- Maintenance of listing on The Nasdaq Capital Market
- Significant reduction in the number of outstanding shares
- Potential short-term stock price volatility
- Risk of not achieving desired price increase despite the reverse split
Insights
This reverse stock split is a significant move for SOBRsafe, primarily aimed at maintaining its Nasdaq listing. The 1-for-110 ratio is quite substantial, indicating severe share price pressure. While this action doesn't directly impact the company's fundamental value, it could have mixed implications:
- Positive: It may attract institutional investors who have minimum share price requirements.
- Negative: It significantly reduces the number of outstanding shares, potentially decreasing liquidity.
With a current market cap of only
DENVER, CO / ACCESSWIRE / September 30, 2024 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe"), provider of next-generation transdermal alcohol detection solutions, today announced that it will proceed with a 1-for-110 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 June 3, 2024.
The Reverse Stock Split is expected to become effective at 12:01 a.m., Eastern Time, on October 2, 2024. SOBRsafe expects the Common Stock will begin trading on a post-split basis at the market open on October 2, 2024, under the existing symbol "SOBR" with the new CUSIP number 833592 306.
The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market.
When the Reverse Stock Split is effective, every 110 shares of the Common Stock issued and outstanding will be combined automatically into one share of Common Stock. 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"), formerly American Stock Transfer & Trust Company, 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 May 13, 2024.
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About SOBRsafe™
Alcohol misuse is the fourth leading cause of preventable death in America, and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive and inefficient, unhygienic and unconnected. There has to be a better way.
Enter SOBRsafe™. Our advanced transdermal (touch-based) technology detects and instantaneously reports the presence of alcohol as emitted through a user's skin - no breath, blood or urine sample is required. With a powerful backend data platform, SOBRsafe provides next generation, passive detection technology for the behavioral health, judicial and consumer markets, and for licensing and integration.
The SOBRsafe technology is commercially available for point-of-care screening (SOBRcheck) and continuous monitoring (SOBRsure). At SOBRsafe, our mission is to create better outcomes and save lives. 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 accesswire.com
FAQ
What is the reverse stock split ratio announced by SOBRsafe (SOBR)?
When will SOBRsafe's (SOBR) reverse stock split become effective?
Why is SOBRsafe (SOBR) implementing a reverse stock split?
Will SOBRsafe's (SOBR) stock symbol change after the reverse split?
