Mobiquity Technologies closes $3.75M public offering; shares and warrants priced at $0.465

Mobiquity Technologies, Inc.

Gross proceeds of $3.75M from offering of 8,064,517 shares/pre-funded warrants and Series 2023 Warrants for 12,096,776 shares.
Net proceeds to company approximately $2.95M after underwriting discounts and expenses.
Proceeds to be used to expand product offerings and enhance AI technology.
Underwriter: Spartan Capital Securities; offering closed on February 16, 2023.
Series 2023 Warrants exercisable for five years at $0.465 per 1.5 shares, with alternative cashless exercise trigger.

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 Underwriting Agreement with Spartan Capital Securities, LLC valued at approximately $2,950,000 (effective 2023-02-13).

Action: entry
Agreement: underwriting
Counterparty: Spartan Capital Securities, LLC
Value: approximately $2,950,000
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, Mobiquity Technologies, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with the Spartan Capital Securities, LLC (the “Underwriter”) relating to the public offering of 3,777,634 shares of common stock and pre-funded warrants to purchase 4,286,883 shares of common stock, accompanied by Series 2023 Warrants to purchase 12,096,776 shares of common stock.

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Mobiquity Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-001031

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