SOBRsafe Inc. Closes $2.0 Million Private Placement for Alcohol Detection Technology

SOBRsafe Inc. (NASDAQ: SOBR), a provider of next-generation alcohol monitoring and detection technology, has closed a $2.0 million at-the-market private placement. The transaction involved the issuance of 1,290,324 shares of common stock or pre-funded warrants, along with Series C and Series D warrants to purchase up to 2,580,648 additional shares. The offering was priced at $1.55 per share, with associated warrants exercisable at $1.30 per share. H.C. Wainwright & Co. acted as the exclusive placement agent for the transaction, while Aegis Capital Corp. received a cash tail fee. The company intends to use the net proceeds for working capital and general corporate purposes.

This financing is significant as it provides SOBRsafe with capital to advance its proprietary alcohol detection technology. The company's transdermal technology detects alcohol presence through skin contact without requiring breath, blood, or urine samples. This approach offers a passive and dignified screening method that could transform alcohol monitoring in multiple sectors. The funding enables SOBRsafe to continue developing its backend data platform, which supports real-time reporting and monitoring solutions. This technology has applications across behavioral health, family law, consumer markets, and potential licensing opportunities.

The private placement represents a strategic move to strengthen SOBRsafe's financial position as it seeks to expand its market presence. By securing $2.0 million in gross proceeds before fees and expenses, the company gains resources to support operations and technology development. The transaction structure, involving both common stock and warrants, provides flexibility for future capital raising while offering investors potential upside through warrant exercises. This financing follows Nasdaq rules for at-the-market offerings, indicating compliance with regulatory requirements for publicly traded companies.

For investors and stakeholders, this development matters because it demonstrates SOBRsafe's ability to access capital markets despite challenging economic conditions. The successful placement suggests investor confidence in the company's technology and market potential. The funds will support SOBRsafe's mission to enable trust and empower recovery through innovative alcohol detection solutions. As the company advances its technology platform, this financing could accelerate product development and market expansion efforts. Additional information about SOBRsafe is available at https://www.sobrsafe.com, while investor updates can be found at https://ibn.fm/SOBR.