SOBRsafe Inc. (NASDAQ: SOBR) has entered into definitive agreements for a private placement that is expected to generate approximately $2.0 million in gross proceeds. The company, which specializes in next-generation alcohol monitoring and detection technology, will issue 1,290,324 shares of common stock along with Series C and Series D warrants to purchase additional shares, with H.C. Wainwright & Co. acting as exclusive placement agent for the transaction.
The private placement is priced at-the-market under Nasdaq rules at a combined purchase price of $1.55 per share and associated warrants. The warrants carry an exercise price of $1.30 per share and are exercisable immediately upon issuance, with the Series C warrants expiring five years after the effective date of the applicable resale registration statement and the Series D warrants expiring twenty-four months after that date. Net proceeds from the offering are intended for working capital and general corporate purposes to support the company's growth initiatives.
SOBRsafe's technology represents a significant advancement in alcohol detection, utilizing transdermal (touch-based) technology that detects and reports in real-time the presence of alcohol as emitted through a user's skin. This approach eliminates the need for breath, blood, or urine samples, providing what the company describes as passive, dignified screening and monitoring solutions. The technology has applications across multiple markets including behavioral health, family law, consumer markets, and licensing and integration opportunities.
The funding announcement comes at a time when workplace safety and substance monitoring technologies are gaining increased attention across industries. SOBRsafe's approach to alcohol detection without invasive testing could potentially transform how organizations monitor employee sobriety, particularly in safety-sensitive positions. The company's backend data platform enables real-time monitoring and reporting, which could help employers maintain safer work environments while respecting individual privacy through less intrusive testing methods.
For business leaders and technology executives, this development signals growing investor confidence in alternative monitoring technologies that balance safety requirements with human dignity considerations. The private placement with an established firm like H.C. Wainwright suggests institutional recognition of the market potential for SOBRsafe's technology. As regulatory requirements around workplace safety continue to evolve, particularly in transportation, manufacturing, and healthcare sectors, technologies like SOBRsafe's could become increasingly important compliance tools.
The company maintains an online presence where additional information about its technology and applications is available at https://www.sobrsafe.com. For investors seeking current information about SOBRsafe, the company maintains a newsroom at https://ibn.fm/SOBR where updates and announcements are regularly posted. The broader implications of this funding round extend beyond immediate corporate growth, potentially accelerating adoption of touch-based alcohol detection technology across multiple sectors where traditional testing methods have presented logistical and privacy challenges.
