Deal with Aspire will span two years, company reports in press release
By Devika Patel
Knoxville, Tenn., April 1 - Mobiquity Technologies, Inc. announced in a press release that it has negotiated a $15 million two-year common stock purchase agreement with Aspire Capital Fund, LLC.
Aspire Capital has made an initial investment of $500,000 at $0.50 per share, which is a 2.04% premium to the closing share price on March 31, $0.49. Future tranches will sell the shares at a price based on prevailing market prices over a period preceding each sale.
The marketing company is based in Garden City, N.Y.
| Issuer: | Mobiquity Technologies, Inc.
|
| Issue: | Common stock purchase agreement
|
| Amount: | $15 million
|
| Tenor: | Two years
|
| Warrants: | No
|
| Investor: | Aspire Capital Fund, LLC
|
| Pricing date: | April 1
|
| Stock symbol: | OTCBB: MOBQ
|
| Stock price: | $0.49 at close March 31
|
| Market capitalization: | $32.73 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
