SOBRsafe Inc. (NASDAQ: SOBR) Raises $8.2M in Private Placement Offering Amid Ongoing Expansion Efforts, Marketing Campaign to Drive Growth

November 12, 2024 at 07:50 AM EST

Alcohol screening and monitoring solutions provider SOBRsafe recently closed on a private placement, which raised $8.2 million in gross proceeds
The company plans to use the net proceeds from the private placement for working capital and general corporate purposes, including possibly boosting its expansion efforts
With an ongoing national marketing campaign, SOBRsafe is presenting its revolutionary alcohol screening and monitoring technologies to 45,000 behavioral health providers in the U.S.
In addition, the company initiated sales activities in Australia and New Zealand through a partnership with a channel partner, and is partnering with companies in India and Italy for proof-of-concept installations of SOBRcheck(TM) or SOBRsure(TM)

SOBRsafe (NASDAQ: SOBR), a provider of next-generation transdermal alcohol screening and monitoring solutions, recently raised $8.2 million in gross proceeds from a private placement with certain institutional investors. The company expects to use the net proceeds from the offering for working capital and general corporate purposes (https://ibn.fm/xM074).

The closing of this offering, announced on October 9, came amid the company’s ongoing expansion efforts, with some of the proceeds expected to boost these initiatives. In August, SOBRsafe launched a national campaign that seeks to introduce the company’s technology offerings – the…

NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at https://ibn.fm/SOBR

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SOBRsafe Inc. (NASDAQ: SOBR) Raises $8.2M in Private Placement Offering Amid Ongoing Expansion Efforts, Marketing Campaign to Drive Growth

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