SOBRsafe Secures $2 Million in Private Placement Funding Through H.C. Wainwright

SOBRsafe Inc. (NASDAQ: SOBR) has entered into definitive agreements for a private placement expected to generate approximately $2.0 million in gross proceeds. The company, which specializes in next-generation alcohol monitoring and detection technology, will issue and sell 1,290,324 shares of common stock, or pre-funded warrants in lieu thereof, along with Series C and Series D warrants. These warrants grant the right to purchase up to an aggregate of 1,290,324 additional shares each. The transaction is priced at-the-market under Nasdaq rules at a combined purchase price of $1.55 per share, or pre-funded warrant in lieu thereof, and associated warrants.

The warrants issued carry an exercise price of $1.30 per share and are exercisable immediately upon issuance. The Series C warrants expire five years after the effective date of the applicable resale registration statement, while the Series D warrants expire twenty-four months after that date. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering. The net proceeds from this financing are intended for working capital and general corporate purposes, which will support the company's operational and strategic initiatives.

This capital infusion is significant for SOBRsafe as it seeks to advance its innovative alcohol detection solutions. The company's technology utilizes advanced transdermal, or touch-based, methods to detect and report the presence of alcohol in real-time through a user's skin, eliminating the need for breath, blood, or urine samples. This passive and dignified screening approach is designed for markets including behavioral health, family law, and consumer applications, as well as for licensing and integration opportunities. The company's backend data platform enhances its monitoring capabilities, positioning it as a leader in this niche sector.

The financial backing from this private placement underscores investor confidence in SOBRsafe's business model and technological advancements. By securing $2.0 million before fees and expenses, the company gains essential resources to potentially expand its market reach, invest in research and development, and strengthen its corporate infrastructure. This move could accelerate the adoption of its alcohol monitoring solutions, addressing growing needs in public health and safety domains. For more details on the company's technology and offerings, visit https://www.sobrsafe.com.

In the broader context, this announcement highlights the ongoing interest and investment in health-tech innovations, particularly those offering non-invasive monitoring solutions. SOBRsafe's approach represents a shift toward more user-friendly and discreet methods of alcohol detection, which could have implications for rehabilitation programs, legal proceedings, and personal wellness. The involvement of a established financial firm like H.C. Wainwright & Co. adds credibility to the offering, potentially attracting further attention from the investment community. As the company leverages these funds, it may enhance its competitive edge in the evolving landscape of alcohol monitoring technologies.