Mobiquity Technologies, Inc. Announces Closing of $3.75 Million Public Offering
17 February 2023 - 8:30AM
Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a
provider of next-generation data and advertising technologies,
announced today the closing of its previously announced
underwritten public offering of shares of common stock and
pre-funded warrants, accompanied by Series 2023 Warrants, for gross
proceeds of approximately $3.75 million, prior to deducting
underwriting discounts and commissions and offering expenses
payable by the Company and excluding any exercise of the
underwriter’s over-allotment option to purchase any additional
securities. The proceeds from the offering will enable Mobiquity
Technologies to expand its product offerings and enhance its
Artificial Intelligence (AI) technology.
The Company filed a final prospectus relating to
the offering with the Securities and Exchange Commission on
February 15, 2023, which describes, among other things, the number
and terms of the securities sold in the offering.
Spartan Capital Securities, LLC acted as sole
bookrunner for this offering. Ruskin Moscou Faltischek P.C.
represented the Company and Manatt, Phelps & Phillips, LLP
represented Spartan Capital Securities, LLC.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Mobiquity
TechnologiesMobiquity Technologies, Inc. is a next-gen,
Platform-as-a-Service (PaaS) company for data and advertising. The
Company maintains one of the largest audience databases available
to advertisers and marketers through its subsidiaries. Mobiquity
Technologies’ current platforms; Advangelists
(www.advangelists.com) and MobiExchange (www.mobiexchange.com)
provide programmatic advertising technologies, data insights on
consumer behavior, automated ad copy and omni-channel delivery
options. For more information, please
visit: https://mobiquitytechnologies.com
Safe Harbor StatementThis press
release contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. In some cases,
forward-looking statements can be identified by words or phrases
such as "may", "will," "expect," "anticipate," "target," "aim,"
"estimate," "intend," "plan," "believe," "potential," "continue,"
"is/are likely to" or other similar expressions. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company does not undertake any duty to
update such information, except as required under applicable
law.
Mobiquity Technologies, Inc. Investor
Relations:
Columbia Marketing GroupEmail:
john@TheColumbiaMarketingGroup.comPhone: 646-736-1900
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