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

  • 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.
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