Business
SOBRsafe Announces Closing of $10 Million Public Offering and Uplisting to the Nasdaq Capital Market
DENVER, CO / ACCESSWIRE / May 18, 2022 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe™" or the "Company"), providers of innovative solutions for alcohol policy
About this update from Sobr Safe, Inc.
[{"type":"text","content":"DENVER, CO / ACCESSWIRE / May 18, 2022 / SOBR Safe, Inc. (NASDAQ:SOBR) (\"SOBRsafe™\" or the \"Company\"), providers of innovative solutions for alcohol policy management, today announced the closing of its underwritten public offering of 2,352,942 units at a price to the public of $4.25 per unit, for aggregate gross proceeds of $10 million, prior to deducting underwriting discounts, commissions, and other estimated offering expenses. Each unit consists of one share of common stock, par value $0.00001 per share, and two warrants, each warrant exercisable for one share of common stock. The common stock and warrants are immediately separable from the Units and were issued separately. The warrants are exercisable immediately, expire five years from the date of issuance, and have an exercise price of $4.25.In addition, the Company has granted Aegis Capital Corp. (\"Aegis\") a 45-day option to purchase additional shares of common stock and/or warrants to cover over-allotments, if any. The purchase price to be paid per additional share of common stock will be equal to the public offering price of one unit. The underwriter partially exercised its over-allotment option with respect to 424,116 warrants to purchase shares of common stock.Aegis Capital Corp. acted as lead book-running manager for the offering and Alexander Capital L.P. acted as co-manager for the offering.A registration statement on Form S-1 (No. 333-262665) relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the \"SEC\") on May 13, 2022. The offering has been made only by means of a prospectus. Copies of the final prospectus may be obtained on the SEC's website, www.sec.gov, or by contacting Aegis Capital Corp., by mail at Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About SOBRsafe™The annual cost of alcohol abuse in the U.S. is $249 billion. Nearly half of all industrial...