Fleet Financing

SOBR Safe, Inc. (SOBR) Announces April 28 IPO


SOBR Safe, Inc. (SOBR) plans to raise $12 million in an initial public offering on Thursday, April 28, IPO Scoop reports. The company will issue 2,700,000 shares at a price of $4.00 to $5.00 per share.

The company has a market capitalization of $47.1 million.

Alexander Capital, LP served as underwriter for the IPO and Revere Securities LLC was co-manager.

SOBR Safe, Inc. provided the following company description for its IPO: “(Note: This is NOT an IPO. This is an update from NASDAQ on the OTCQB market. IPOScoop has NO CALL on the listings. SOBR Safe has revised its public offer to the NASDAQ. (uplisting) for the second time in an S-1/A file dated April 20, 2022: subscription in the agreement and size it to 2.67 million units – compared to 2.4 million shares in an April 8, 2022 filing – and reduce the price range from $4.00 to $5.00 – down $4.50 to $5.50 – to raise $12.02 million to 2.4 million shares – proposed sale reorganization by removing warrants Original terms called for 3 million units.) (Note: Shares of SOBR Safe are expected to trade under the proposed symbol “SOBR” and Warrants under the proposed symbol “SOBRW” – both on NASDAQ.) (Note: Unless otherwise indicated, the stock and per share information in this prospectus reflects a reverse stock split of the Company’s outstanding common stock at an assumed one-to-three ratio. (1:3) to take place immediately after the effective date but before the closing of the offer. The financial statements, which are included on pages F-1 through F-60, and related MD&A disclosure, have not been adjusted for the planned 1-for-3 stock split.) We intend to provide businesses with non-invasive technology information to quickly and safely identify potential alcohol problems with their employees or contractors, which, if undetected, could result in injury or death. These technologies will be integrated into our robust and scalable data platform, producing statistical and measurable user and business data. Our mission is to save lives, increase productivity, create meaningful economic benefits for our customers and positively impact behaviors. To this end, we have developed the scalable and patent-pending software platform SOBRSafe™ for non-invasive alcohol detection and identity verification, a solution that has anticipated applications in commercial vehicle fleets. , manufacturing and warehousing, construction, and for commercial fleets and young drivers. in portable form. We believe that consistent daily use of our device could result in significant insurance savings on workers’ compensation, general liability, and fleet policies. We have successfully completed several pilot test programs involving our SOBRcheck™ device, which is our first device with our scalable, patent-pending SOBRSafe™ software platform for non-invasive alcohol detection and alcohol verification. identity. These pilot programs made it possible to validate both our SOBRSafe™ software platform and our SOBRcheck™ device. As a result, we have now progressed to commercial production of our first SOBRcheck™ devices, which we have started using for our first customers. At the end of 2021, we had several customers in the sales cycle, but our SOBRcheck™ devices were not delivered to them until January 2022. As a result, we will not invoice these customers or collect revenue from customers until the first quarter. of 2022. The schedule for our commercial launch of our SOBRcheck™ device has been delayed several times in 2021 mainly due to our pursuit of adequate funding (obtained since), the signing of pilot customers to test our device (this which was more challenging over the summer due to the travel schedules of some of our target customers), and some supply chain issues largely caused by the COVID-19 pandemic. Additionally, during pilot testing of our SOBRcheck™ device, we discovered that alcohol-based hand sanitizer caused false readings by the device. In response to this discovery, we have made adjustments to our SOBRSafe™ technology scans and added a mandatory protocol for not using alcohol-based sanitizers to our protocols for using the SOBRcheck™ device. Our second device, a SOBRsure™ wearable bracelet, uses the same SOBRsafe™ sensor technology, proven in SOBRcheck™ pilot tests. The primary intended application for this strip is for young individual drivers and commercial fleet management, with additional potential application in alcohol rehabilitation. We expect the wearable bracelet to be commercially available in August 2022. Manufacturing and assembly of our SOBRcheck™ device will take place in the United States. Our SOBRsafe™ technology can also be deployed on many additional devices for various uses; Among those we are currently exploring are possible integrations with existing telematics systems for fleet vehicles, as well as law enforcement technologies to enhance public safety. Additionally, we are proactively evaluating other emerging technologies that detect or could detect the presence of other substances in the human body. Currently, our plan is to deploy our SOBRSafe™ technology in two initial devices: the SOBRsure™ wearable bracelet and the SOBRcheck™ system. “.

SOBR Safe, Inc. was founded in 2007 and has 9 employees. The company is located at 6400 S. Fiddlers Green Circle, Suite 525 Greenwood Village, Colorado 80111 and can be reached by phone at (844) 762-7723 or on the web at http://www.sobrsafe.com/ .



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