03:31 AM EDT, 10/08/2024 (MT Newswires) -- SOBR Safe ( SOBR ) said late Monday it priced a $8.2 million private placement with certain institutional investors.

The company said it plans to issue about 2 million units, each consisting of one common share, two series A warrants and one series B warrant, at $4.05 per unit.

The private placement, expected to close on Tuesday, will generate funds for general corporate purposes and working capital.

Shares of SOBR Safe ( SOBR ) were down more than 24% in after-hours activity Monday.

Price: 7.66, Change: -2.44, Percent Change: -24.16