SOBR Safe, which is developing a non-invasive alcohol detection and identity verification system, raised $10 million by offering 2.4 million units at $4.25, the low end of the range of $4.25 to $4.75. Each unit contains one share of common stock and two warrants, exercisable at the IPO price.
Because the company offered units with warrants attached and its market cap is less than $50 million at pricing, SOBR Safe will be excluded from Renaissance Capital's 2022 IPO stats.
SOBR Safe plans to list on the Nasdaq under the symbol SOBR. Aegis Capital Corp. acted as sole bookrunner on the deal.
