Sobr Safe Shares Soar 89% After Withdrawing Public Offering

Dow Jones10-18

By Connor Hart

Shares of Sobr Safe surged after the company withdrew a contemplated public offering of units.

The stock rallied 89% to $15 in after-hours trading Thursday. Shares, which ended the regular session up 0.4% to $7.95, have fallen 84% this year.

The Greenwood Village, Colo., company, which makes alcohol-screening products, requested the Securities and Exchange Commission withdraw a proposed public offering from last month, and said it had decided not to pursue the transaction at this time.

The offering would have had the company sell an undisclosed number of units at an undisclosed cost, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 17, 2024 18:48 ET (22:48 GMT)

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