Mobiquity Technologies, Inc. , a provider of next-generation data and advertising technologies, announced the closing of its previously announced underwritten public offering of shares of common stock and pre-funded warrants, accompanied by Series 2023 Warrants, for gross proceeds of approximately $3.75 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company and excluding any exercise of the underwriter’s over-allotment option to purchase any additional securities. The proceeds from the offering will enable Mobiquity Technologies to expand its product offerings and enhance its Artificial Intelligence (AI) technology.

The Company filed a final prospectus relating to the offering with the Securities and Exchange Commission on February 15, 2023, which describes, among other things, the number and terms of the securities sold in the offering.

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Spartan Capital Securities, LLC acted as sole bookrunner for this offering. Ruskin Moscou Faltischek P.C. represented the Company and Manatt, Phelps & Phillips, LLP represented Spartan Capital Securities, LLC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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