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FAQ: SOBRsafe's $2.0 Million Private Placement with H.C. Wainwright
TL;DR
SOBRsafe's $2 million private placement offers investors immediate warrants at $1.30 per share, providing potential leverage in the alcohol detection technology market.
SOBRsafe issued 1,290,324 shares at $1.55 each with warrants exercisable at $1.30, generating $2 million for working capital through H.C. Wainwright & Co.
SOBRsafe's funding supports touch-based alcohol detection technology that enables dignified monitoring, potentially improving safety and recovery outcomes in behavioral health and family law.
SOBRsafe uses transdermal technology to detect alcohol through skin contact, eliminating the need for breath, blood, or urine samples in monitoring solutions.
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SOBRsafe Inc. has entered into a $2.0 million private placement agreement with H.C. Wainwright & Co. to issue shares and warrants, raising capital for working capital and general corporate purposes.
SOBRsafe is issuing 1,290,324 shares of common stock (or pre-funded warrants in lieu thereof), along with Series C and Series D warrants that each allow purchase of up to 1,290,324 additional shares.
The combined purchase price is $1.55 per share (or pre-funded warrant in lieu thereof) and associated warrants, with the warrants carrying an exercise price of $1.30 per share.
The offering is expected to generate approximately $2.0 million in gross proceeds, before fees and expenses.
H.C. Wainwright & Co. is acting as the exclusive placement agent for this private placement.
The net proceeds are intended for working capital and general corporate purposes.
Series C warrants expire five years after the effective date of the applicable resale registration statement, while Series D warrants expire twenty-four months after that date.
SOBRsafe develops next-generation alcohol detection technology that uses advanced transdermal (touch-based) technology to detect alcohol through a user's skin in real-time, without requiring breath, blood, or urine samples.
You can visit their website at www.sobrsafe.com or access the latest news and updates at https://ibn.fm/SOBR.
SOBRsafe provides screening and monitoring solutions for the behavioral health, family law and consumer markets, and for licensing and integration.
Curated from InvestorBrandNetwork (IBN)
