Mobiquity Technologies secures $1.44M senior secured note with 20% OID and warrant to Walleye Opportunities

Mobiquity Technologies, Inc.

Issued a $1,437,500 senior secured note (20% OID, nine-month maturity) with a warrant exercisable after July 1, 2023.
Issued 522,727 shares of common stock (~5.3% of outstanding) as an incentive to the investor.
Placement agent received $103,500 fee and warrants to purchase 26,136 shares at $0.484 per share.
Proceeds used in part to retire a $150,000 SBA loan; assets and subsidiaries collateralized.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mobiquity Technologies, Inc. entered into Securities Purchase Agreement with Walleye Opportunities Master Fund Ltd valued at $1,437,500 (effective 2022-12-30).

Action: entry
Agreement: equity purchase
Counterparty: Walleye Opportunities Master Fund Ltd
Value: $1,437,500
Effective: 2022-12-30

Exact text from the filing

On December 30, 2022, Mobiquity Technologies, Inc. (“Company”), and Walleye Opportunities Master Fund Ltd, a Cayman Islands company (the “Investor”), entered into a Securities Purchase Agreement (the “Agreement”) for the Investor to purchase from the Company (i) a senior secured 20% OID nine-month promissory note in an aggregate original principal amount of $1,437,500 in the form set forth in exhibit 10.2 (the “Investor Note”), and (ii) a warrant to purchase shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”) in the form set forth in exhibit 10.3, which is not exercisable until July 1, 2023 (the “Investor Warrant”).

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Mobiquity Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-000016

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