SOBRsafe closes $2 million private placement at $1.55 per share

SOBR Safe Inc. (NASDAQ: SOBR) completed a private placement raising approximately $2 million in gross proceeds through the sale of 1,290,324 shares of common stock and associated warrants priced at $1.55 per share.

The offering included Series C and Series D warrants to purchase up to 1,290,324 shares each of common stock. The warrants carry an exercise price of $1.30 per share and are exercisable immediately. Series C warrants expire five years after the effective date of a resale registration statement, while Series D warrants expire 24 months after that date.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering, with Aegis Capital Corp. receiving a cash tail fee. The company plans to use net proceeds for working capital and general corporate purposes.

The securities were offered through a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D to accredited investors only. The shares and underlying warrant shares have not been registered under federal securities laws.

SOBRsafe develops alcohol detection technology that monitors alcohol presence through skin contact without requiring breath, blood or urine samples. The company provides monitoring solutions for behavioral health, family law and consumer markets.

The company has agreed to file registration statements with the SEC covering the resale of the unregistered securities issued in the offering, according to a registration rights agreement.

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