SOBR Safe, Inc. Announces Closing of $6 Million Private Placement Priced At-the-Market

DENVER, CO / ACCESSWIRE / September 30, 2022 / SOBR Safe, Inc. (NASDAQ:SOBR) (the Company or SOBRsafe), providers of industry-leading alcohol screening solutions, today closed its previously announced private placement pursuant to a securities purchase agreement with institutional investors for aggregate gross proceeds of approximately $6 million, before deducting fees to the placement agent and other expenses payable by the Company.In connection with the private placement, the Company issued 1,925,677 units and 2,128,378 pre-funded units at a purchase price of $1.48 per unit priced at-the-market under Nasdaq rules. Pursuant to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the SEC covering the resale of the common stock and the common stock issuable upon exercise of the warrants.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.The annual cost of alcohol abuse in the U.S. is $249 billion. Nearly half of all industrial accidents with injuries are alcohol-related, and 1-in-10 U.S. commercial drivers test positive for alcohol (the highest rate worldwide). This patent-pending alcohol detection solution helps prevent an intoxicated worker from taking the factory floor or a driver from receiving the keys to a truck, bus or rideshare vehicle. In some cases, you can identify these statements by words such as if, may, might, will, should, expects, plans, anticipates, believes, estimates, predicts, potential, continue, and other similar terms.