Mobix Labs Announces $4 Million Private Placement Priced At-the-Market Under Nasdaq Rules

About this update from Mobix Labs, Inc.

[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nMobix Labs Inc. (Nasdaq: MOBX), a leader in advanced connectivity solutions, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 2,877,698 shares of its Class A common stock (or Class A common stock equivalents in lieu thereof), series A warrants to purchase up to 2,877,698 shares of Class A common stock and short-term series B warrants to purchase up to 2,877,698 shares of Class A common stock at a purchase price of $1.39 per share (or per Class A common stock equivalent in lieu thereof) and accompanying warrants in a private placement priced at-the-market under Nasdaq rules. The series A warrants and short-term series B warrants will have an exercise price of $1.39 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares Class A common stock upon exercise of the warrants (the “Stockholder Approval”). The series A warrants will expire five years from the Stockholder Approval and the short-term series B warrants will expire twelve months from the Stockholder Approval. The closing of the offering is expected to occur on or about July 24, 2024, subject to the satisfaction of customary closing conditions.\n\n\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.\n\n\nThe gross proceeds to the Mobix Labs from the offering are expected to be approximately $4 million, before deducting the placement agent’s fees and other offering expenses payable by Mobix Labs, and excluding the proceeds, if any, from the exercise of the warrants. Mobix Labs currently intends to use the net proceeds from the offering for working capital, for potential future acquisitions and operational expenses associated therewith.\n\n\nThe securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the securities described above, including the shares of common stock underlying the warrants, may not be offered or sold in the United States except pursuant to an effective reg...

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