SOBR Safe, Inc. - SOBR STOCK NEWS

SOBRsafe, a provider of next-generation transdermal alcohol detection solutions, announced it has received $2.8 million in gross proceeds from the exercise of warrants. This financial move also included converting $2.6 million in debt into 4,358,957 shares of common stock, significantly strengthening its balance sheet.

The transactions were made possible through an inducement letter, where the warrant holder agreed to convert all warrants at a reduced exercise price of $0.27 per share. This conversion involved 10,319,163 warrants. The underlying shares are eligible for resale under Rule 144 or have been registered for resale through Form S-1 registration statements. Concurrently, SOBRsafe issued the holder 20,638,326 new warrants, also exercisable at $0.27 per share.

These actions are part of SOBRsafe's strategy to build financial flexibility and regain Nasdaq listing compliance, positioning the company for accelerated growth.

SOBR Safe has announced agreements with recovery services Hired Power and The Firm to adopt its SOBRsure device, replacing traditional breathalyzers for remote client monitoring. Both companies have made initial hardware and software purchases, drawn by SOBRsure's 24/7 passive monitoring and non-invasive design. Hired Power, based in Huntington Beach, California, is an established provider of professional transition services. The Firm, located in Nashville, Tennessee, offers family education, intervention, and long-term recovery services. The new SOBRsure devices aim to improve client experience and monitoring efficiency.

SOBRsafe (NASDAQ:SOBR) announced its participation in two major events: the West Coast Symposium on Addictive Disorders and the Lytham Partners Spring Investor Conference. The West Coast Symposium, to be held in Palm Springs from May 30 to June 1, will focus on addiction treatment strategies and behavioral health, featuring over 1,500 professionals. SOBRsafe will exhibit at Booth #404, marking its debut in the behavioral health market. The company has secured over 20 accounts in 2024. Additionally, SOBRsafe CEO Dave Gandini will present at the Lytham Partners Investment Conference on May 30 at 2:45 p.m. ET. The presentation will be webcast and available for replay. SOBRsafe aims to elevate its brand and technology through these events.

SOBR Safe (NASDAQ:SOBR) has announced securing 20 new accounts in 2024, a significant increase compared to just three in 2023. The latest clients, Lighthouse Recovery Resources and Mountain House Recovery, have adopted SOBRsafe's transdermal alcohol detection solutions.

Lighthouse, based in Carbondale, Colorado, purchased 10 SOBRsure wristbands to monitor high-risk patients, facilitating faster intervention compared to traditional methods. Mountain House, based in Flagstaff, Arizona, is integrating SOBRcheck point-of-care screening, offering a less stigmatizing and cost-effective solution for their residents.

SOBRsafe, Inc. has secured a new three-facility behavioral health customer in Southern California and a new justice channel partner in Texas. The company signed agreements to provide alcohol detection solutions to these new partners, expanding its presence in key markets. The behavioral health customer has installed SOBRcheck devices in each facility to improve screening processes, while the channel partner plans to utilize SOBRsafe technology for various applications. SOBRsafe has experienced significant growth in 2024 with 18 new accounts secured, compared to only three in 2023.

SOBRsafe, a provider of transdermal alcohol detection solutions, has entered the Florida market by signing an agreement with a four-facility behavioral health provider. The customer has installed SOBRcheck in all facilities for point-of-care screening and is evaluating SOBRsure for continuous monitoring. This deal is part of sixteen new accounts secured in Q1 2024, a significant increase from the previous year. The technology replaces breathalyzers, offering quick and non-invasive alcohol detection, streamlining operations, and enhancing screening protocols.

SOBR Safe, Inc. CEO Dave Gandini provides a video update on the company's evolved sales focus, 2024 progress report, and future strategy. The company recently filed its Fiscal 2023 10-K report with the SEC, emphasizing transparency and progress.

SOBR Safe, Inc. introduces Touch-Based Alcohol Detection Solution in a behavioral health webinar. The webinar highlights the importance of monitoring during transitional phases in recovery and the affordability of SOBRsure™ bands for long-term sobriety support.

SOBR Safe, Inc. (NASDAQ: SOBR) announces Lake Erie Interlock's purchase of SOBRcheck and SOBRsure devices, expanding alcohol detection services in Ohio. The partnership aims to support sobriety and prevent relapse through real-time testing and discreet monitoring.