Mobiquity Shares Plunge After Raising Capital Via Secondary Share Sale At Over 12% Discount

February 14, 2023 12:11 PM | 1 min read |

Mobiquity Technologies, Inc MOBQ raised $3.75 million via a secondary share sale of 8.06 million shares.
The offer price of $0.465 implied a 12.3% discount to the February 13 closing of $0.530.
The offering included pre-funded warrants in lieu of shares, plus Series 2023 Warrants to purchase 12.1 million shares.
The underwriters have 45 days to purchase up to an additional 1.21 million shares, pre-funded warrants in lieu of shares, and Series 2023 Warrants to purchase 1.81 million shares.
The proceeds from the offering will enable Mobiquity Technologies to expand its product offerings and enhance its Artificial Intelligence (AI) technology.
Price Action: MOBQ shares traded lower by 32.8% at $0.36 on the last check Tuesday.