Mobiquity Technologies, Inc. Announces Pricing Of $3M Public Offering Of 30M Shares Of Common Stock At A Price Of $0.10/Share
Portfolio Pulse from Happy Mohamed
Mobiquity Technologies, Inc. (NASDAQ:MOBQ) has announced the pricing of its public offering of 30 million shares of common stock at $0.10 per share, aiming to raise approximately $3 million. The closing of the offering is expected to occur on June 30, 2023. The company plans to use part of the proceeds to pay off secured debt and the remaining for working capital.
June 29, 2023 | 1:32 pm
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Mobiquity's public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the funds raised will be used to pay off debt and increase working capital, which could strengthen the company's financial position in the long term.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the use of proceeds for debt repayment and working capital could improve the company's financial health, potentially offsetting the dilution effect in the long term.
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