Mobiquity Technologies, Inc. Announces Closing of $3.0 Million Public Offering
July 03 2023 - 8:30AM
Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a
provider of next-generation data intelligence and advertising
technology solutions, announced today the closing on June 30, 2023
of its previously announced “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.
Spartan Capital Securities, LLC acted as the Company’s exclusive
placement agent for the offering. Ruskin Moscou Faltischek P.C.
represented the Company and Manatt, Phelps & Phillips, LLP
represented Spartan Capital Securities, LLC.
The Company filed a final prospectus relating to
the offering with the Securities and Exchange Commission on June
30, 2023, which describes, among other things, the terms of the
securities sold in the offering.
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.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 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.comPhone:
646-736-1900
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