Mobiquity Technologies, Inc. Announces Pricing of $3.0 Million Public Offering
29 June 2023 - 11:30PM
Mobiquity Technologies, Inc.(NASDAQ: MOBQ) (the “Company”), a
provider of next-generation data intelligence and advertising
technology solutions, announced today the pricing of its
“reasonable best efforts” public offering of 30,000,000 shares of
common stock (or common stock equivalents in lieu thereof) at an
effective price of $0.10 per share for aggregate gross proceeds of
approximately $3.0 million, prior to deducting placement agent fees
and other offering expenses payable by the Company.
The closing of the offering is expected to occur on or about
June 30, 2023, subject to the satisfaction of customary closing
conditions. The Company intends to allocate up to $1,437,500 of the
net proceeds to pay off the secured debt and use the remaining
proceeds for working capital.
Spartan Capital Securities, LLC is acting as placement agent for
the offering. Ruskin Moscou Faltischek P.C. represented the Company
and Manatt, Phelps & Phillips, LLP represented Spartan Capital
Securities, LLC.
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-272572) previously
filed with the Securities and Exchange Commission (“SEC”) which
became effective on June 29, 2023. The offering is being made only
by means of a prospectus forming part of the effective registration
statement. Copies of the preliminary prospectus and, when
available, copies of the final prospectus, relating to the offering
may be obtained on the SEC’s website located at http://www.sec.gov.
Electronic copies of the final prospectus relating to the offering
may be obtained, when available, from: Spartan Capital Securities,
LLC, 45 Broadway, New York, NY 10006, at (212) 293-0123.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation, or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Mobiquity Technologies
Mobiquity 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) 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 Statement
This 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.com Phone: 646-736-1900
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