Sobrsafe Inc. (NASDAQ: SOBR) Raises $8.2M In Private Placement Offering Amid Ongoing Expansion Efforts, Marketing Campaign To Drive Growth

(MENAFN- Investor Brand Network)

• 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 ( ).

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...

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