Mobiquity Technologies, Inc. Announces Pricing of $10.3 Million Public Offering

Mobiquity Technologies, Inc. (the “Company”), a leading provider of next-generation advertising, announced an underwritten public offering of units for gross proceeds of approximately $10.3 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the company and excluding any exercise of the underwriters’ option to purchase any additional securities as described herein.

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The public offering is comprised of 2,481,928 units, priced at a public offering price of $4.15 per unit, consisting of an aggregate of 2,481,928 shares of common stock and warrants to purchase 2,481,928 shares of common stock. The warrants have an exercise price of $4.98 per share and are exercisable for five years.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 372,289 shares and 372,289 warrants at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about December 13, 2021, subject to satisfaction of customary closing conditions.

The Company has applied to list its common stock and warrants comprising of the units on the Nasdaq Capital Market under the symbols “MOBQ” and “MOBQW,” respectively. No assurance can be given that the Company’s application for a Nasdaq Capital Market listing will be approved. The approval of the Company’s listing on the Nasdaq Capital Market is a condition of closing this offering.

Spartan Capital Securities, LLC and Revere Securities LLC are acting as joint bookrunners for this offering.

The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-1 relating to these securities on December 8, 2021. A final prospectus relating to this offering will be filed with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006, at (212) 293-0123.

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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