Mobiquity prices $3M public offering of 30M shares at $0.10; net proceeds to pay secured debt

Mobiquity Technologies, Inc.

Public offering of 30,000,000 shares (or pre-funded warrants) at $0.10/share for gross proceeds of ~$3.0M.
Net proceeds expected ~$2.385M after placement agent fees and expenses.
Up to $1,437,500 of net proceeds to repay secured debt; remainder for working capital.
Closing expected June 30, 2023; Spartan Capital Securities acting as placement agent.
Offering pursuant to effective Form S-1 registration statement (File No. 333-272572).

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 Placement Agent Agreement with Spartan Capital Securities, LLC valued at approximately $2,385,000 (effective 2023-06-29).

Action: entry
Agreement: underwriting
Counterparty: Spartan Capital Securities, LLC
Value: approximately $2,385,000
Effective: 2023-06-29

Exact text from the filing

On June 29, 2023, Mobiquity Technologies, Inc. (the “Company”) entered into a Placement Agent agreement (the “Placement Agent Agreement”) with the Spartan Capital Securities, LLC (the “Placement Agent”) relating to the public offering of up to 30 million shares of common stock (or common stock equivalents in lieu thereof in the form of pre-funded warrants).

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Mobiquity Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-004540

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