The company revealed it is moving to execute warrants for 2.36 million shares that were originally priced at $1.30. Alongside this maneuver, SOBR Safe is issuing new Series E and Series F warrants, matching the same $1.30 exercise price. These offerings are projected to generate approximately $3.1 million in gross proceeds for the firm.

Management intends to allocate the net capital toward general corporate expenses and the ongoing merger with Clean World Ventures. Before this after-hours decline, the stock had experienced a relatively stable year, recording a minor 3.3% dip prior to today's volatility.