Mobiquity Technologies, Inc. Announces Pricing of $10.3 Million Public Offering
December 09 2021 - 7:00AM
Mobiquity Technologies, Inc.(NASDAQ: MOBQ) (the “Company”), a
leading provider of next-generation advertising, announced today an
underwritten public offering of units for gross proceeds of
approximately $10.3 million, prior to deducting underwriting
discounts and commissions and offering expenses payable by the
company and excluding any exercise of the underwriters' option to
purchase any additional securities as described herein.
The public offering is comprised of 2,481,928 units, priced at a
public offering price of $4.15 per unit, consisting of an aggregate
of 2,481,928 shares of common stock and warrants to purchase
2,481,928 shares of common stock. The warrants have an exercise
price of $4.98 per share and are exercisable for five years.
In addition, the Company has granted the
underwriters a 45-day option to purchase up to an additional
372,289 shares and 372,289 warrants at the public offering price
less the underwriting discounts and commissions. The offering is
expected to close on or about December 13, 2021, subject to
satisfaction of customary closing conditions.
The Company has applied to list its common stock
and warrants comprising of the units on the Nasdaq Capital Market
under the symbols “MOBQ” and “MOBQW,” respectively. No assurance
can be given that the Company’s application for a Nasdaq Capital
Market listing will be approved. The approval of the Company’s
listing on the Nasdaq Capital Market is a condition of closing this
offering.
Spartan Capital Securities, LLC and Revere
Securities LLC are acting as joint bookrunners for this
offering.
The Securities and Exchange Commission ("SEC")
declared effective a registration statement on Form S-1 relating to
these securities on December 8, 2021. A final prospectus relating
to this offering will be filed with the SEC. The offering is being
made only by means of a prospectus, copies of which 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 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. (OTCQB: MOBQ)
www.mobiquitytechnologies.com, is a next generation,
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 data services division.
Mobiquity Technologies’ Advangelists subsidiary
(www.advangelists.com) provides programmatic advertising
technologies and insights on consumer behavior. 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
RelationsTraDigital IRKevin
McGrath+1-646-418-7002kevin@tradigitalir.com
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