Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

TechMediaBreaks – SOBR Safe Inc. (NASDAQ: SOBR) Strengthens Balance Sheet and Eliminates Debt through Exercise of Warrants, Conversion of Notes

SOBRsafe (NASDAQ: SOBR), a provider of next-generation, transdermal alcohol-detection solutions, has received an estimated $2.8 million in gross proceeds from the exercise of warrants while also settling its remaining debt balances through the conversion of outstanding notes payable into 4,358,957 shares of common stock. The company is focused on strengthening its balance sheet and working to regain compliance with the NASDAQ market. “These are very positive developments for the future of SOBRsafe,” said SOBRsafe CEO and chair Dave Gandini in the press release. “We have significantly strengthened our balance sheet with both this infusion of capital and elimination of $2.6 million in debt, which alleviates future cash payments. Moreover, we have increased our prospective equity balances consistent with our plan to regain the company’s NASDAQ listing compliance. We continue to build flexibility into our capital structure and believe we are now better positioned for accelerated growth.”

To view the full press release, visit https://ibn.fm/HsCAu

About SOBR Safe Inc. 

SOBRsafe offers an advanced transdermal (touch-based) technology that detects and instantaneously reports in real time the presence of alcohol as emitted through a user’s skin — no breath, blood or urine sample is required. Alcohol misuse is the fourth-leading cause of preventable death in America and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive, inefficient, unhygienic and unconnected. There has to be a better way. Enter SOBRsafe. With a powerful backend data platform, SOBRsafe provides next-generation, passive-detection technology for the behavioral health, judicial and consumer markets, as well as for licensing and integration. The SOBRsafe technology is commercially available for point-of-care screening (SOBRcheck) and continuous monitoring (SOBRsure). SOBRsafe is creating a culture of prevention and support. For more information about the company, visit www.SOBRsafe.com.

NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at http://ibn.fm/SOBR

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com

TechMediaWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.