- Transdermal alcohol detection solutions provider SOBRsafe is implementing strategies to further strengthen its financial position
- During Q2 2024, the company eliminated $2.6 million in debt and improved its balance sheet with a capital infusion from the exercise of warrants
- SOBRsafe has increased its revenue by 44% from Q2 2023 as it continues to onboard new customers in 2024
SOBRsafe (NASDAQ: SOBR), the provider of next-generation transdermal alcohol detection solutions, has continued to implement plans and strategies to strengthen its financial position and restructure shareholder equity throughout the second quarter of its 2024 financial year, according to its recent Q2 2024 quarterly update (https://ibn.fm/ZWPa8).
In June the company entered into a Warrant Inducement agreement. The execution of the agreement provided the company with gross proceeds of approximately $2.8 million and net cash proceeds of approximately $2.4 million in exchange for the exercise of 10,319,163 applicable warrants to…
NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at https://ibn.fm/SOBR
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