SOBRsafe Inc. (NASDAQ: SOBR), a company specializing in advanced alcohol monitoring technology, has entered into definitive agreements for a private placement expected to generate approximately $2.0 million in gross proceeds. The transaction involves the issuance and sale of 1,290,324 shares of common stock or pre-funded warrants, along with Series C and Series D warrants to purchase additional shares, at a combined purchase price of $1.55 per unit. H.C. Wainwright & Co. is acting as exclusive placement agent for the offering, which is priced at-the-market under Nasdaq rules.
The warrants included in the private placement 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. Net proceeds from the offering are intended for working capital and general corporate purposes, supporting the company's ongoing operations and technology development.
This financial development is significant because it provides SOBRsafe with capital to advance its next-generation alcohol detection technology at a time when reliable, non-invasive monitoring solutions are increasingly important. The company's transdermal technology detects alcohol presence through skin contact without requiring breath, blood, or urine samples, representing a potential paradigm shift in alcohol monitoring approaches. This technology has applications across multiple sectors where alcohol monitoring is critical, including behavioral health programs, family law cases, and consumer safety initiatives.
The funding comes as SOBRsafe positions its technology as a passive, dignified alternative to traditional alcohol screening methods. The company's backend data platform enables real-time reporting of alcohol detection, which could transform how organizations monitor compliance and support recovery efforts. For investors and industry observers, this private placement represents continued confidence in SOBRsafe's technological approach and market potential. More information about the company's technology and applications is available at https://www.sobrsafe.com.
The broader implications of this funding extend beyond immediate corporate needs to the potential societal impact of improved alcohol monitoring technology. As substance abuse and alcohol-related issues continue to challenge healthcare systems, legal frameworks, and workplace safety, technologies that offer more humane and effective monitoring could address significant gaps in current approaches. The private placement with H.C. Wainwright provides SOBRsafe with resources to potentially accelerate development and deployment of its touch-based detection system, which could benefit various stakeholders seeking reliable alcohol monitoring solutions.
