Mobiquity Technologies, Inc. NASDAQ: MOBQ) (the “Company”, a provider of next-generation data intelligence and advertising technology solutions, announced today the closing on June 30, 2023 of its previously announced “reasonable best efforts” public offering of 30,000,000 shares of common stock (or common stock equivalents in lieu thereof) at an effective price of $0.10 per share for aggregate gross proceeds of approximately $3.0 million, prior to deducting placement agent fees and other offering expenses payable by the Company.

Spartan Capital Securities, LLC acted as the Company’s exclusive placement agent for the offering. Ruskin Moscou Faltischek P.C. represented the Company and Manatt, Phelps & Phillips, LLP represented Spartan Capital Securities, LLC.

The Company filed a final prospectus relating to the offering with the Securities and Exchange Commission on June 30, 2023, which describes, among other things, the terms of the securities sold in the offering.

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