SOBR Safe, Inc. (NASDAQ:SOBR) shares jumped 33.7% to $0.73 in after-hours trading on Thursday, after the Denver-based alcohol monitoring company announced a definitive agreement to merge with Clean World Ventures, Inc., a zero-carbon green energy technology firm.
CWV designs modular green hydrogen and clean electricity systems deployable on-site, targeting AI data centers, critical materials mining, and heavy industry.
Pivot To Clean Energy
Under the proposed transaction, CWV is expected to hold about 98% ownership of the combined public company once the deal closes, which is targeted for the third quarter.
The deal requires approximately $5.5 million in pre-close third-party financing committed to SOBRsafe, with $2 million to be deployed by the SOBRsafe operating company at closing.
SOBR also plans to continue evaluating monetization opportunities for its alcohol monitoring …