SOBR Safe Inc. (SOBR) experienced a sharp decline on Tuesday, with its stock plummeting by 33.4% to $6.72 per share. This drop followed the company’s announcement of a private placement with institutional investors aimed at raising $8.2 million in gross proceeds. The deal involves issuing 2,024,691 units, each consisting of one share of common stock or a pre-funded warrant, along with Series A and Series B warrants. The capital raised will support general corporate operations and working capital.
The private placement is set to close by October 8, pending customary conditions.
Investors looking to buy SOBR stock have alternatives to traditional brokerage accounts, such as exchange-traded funds (ETFs) that include the stock, or utilizing strategies within 401(k) plans that invest in mutual funds and other financial instruments. SOBR Safe operates in the Information Technology sector, where ETFs typically hold shares of larger, liquid companies, allowing investors to capitalize on sector trends.
Data from Benzinga Pro shows that SOBR’s 52-week high is $110.00, while its 52-week low is $3.70. This range highlights the stock’s volatility and recent performance.
