11:06 AM EDT, 10/09/2024 (MT Newswires) -- SOBR Safe ( SOBR ) said Wednesday it closed a private placement of 2.02 million units at an effective price of $4.05 apiece for about $8.2 million in gross cash proceeds.

Each unit consisted of one common share, two series A warrants and one series B warrant.

The company said it plans to use the net proceeds for general corporate purposes and working capital.

SOBR Safe ( SOBR ) shares were up more than 10% in recent trading.

Price: 7.58, Change: +0.70, Percent Change: +10.16