Mobiquity to sell $10 million of common stock via its public offering

Proceeds used to hire sales, marketing and human resources personnel

By Devika Patel

Knoxville, Tenn., May 21 – Mobiquity Technologies, Inc. plans to raise $10 million in its public sale of common stock with a 45-day greenshoe, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $11.5 million of stock for the sale, which was announced Jan. 2.

National Securities Corp. is the bookrunning manager and H.C. Wainwright & Co. is the co-manager.

Proceeds will be used for fees to secure and maintain the company’s mall rights, to hire additional sales, marketing and human resources personnel, to repay debt and for working capital and other general corporate purposes.

The marketing company is based in Garden City, N.Y.

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