SOBR Safe, Inc. (NASDAQ:SOBR) (the “Company” or “SOBRsafe”), providers of industry-leading alcohol screening solutions, today announced that it entered into a securities purchase agreement with institutional investors for aggregate gross proceeds of approximately $6.0 million, before deducting fees to the placement agent and other offering expenses payable by the Company.
In connection with the offering, the Company will issue 4,054,055 units and pre-funded units at a purchase price of $1.48 per unit priced at-the-market under Nasdaq rules. The pre-funded units will be sold at the same price less the pre-funded warrant exercise price of $0.001. Each unit and pre-funded unit consist of one share of common stock (or common stock equivalent) and one non-tradable warrant exercisable for one share of common stock at a price of $1.35. The warrants have a term of seven years from the issuance date.
