IRVINE, Calif. - Mobix Labs Inc. (NASDAQ: MOBX), a developer of connectivity solutions for various sectors, including aerospace and military, has entered into a stock purchase agreement with B. Riley Principal Capital II, LLC. The deal provides for the purchase of up to $100 million of Mobix Labs Class A common stock, with pricing based on market rates at the time of each sale.
The agreement allows Mobix Labs to sell shares at its discretion, without obligation, and details regarding the terms will be disclosed in a forthcoming Form 8-K to be filed with the Securities and Exchange Commission. The shares issued under this agreement will be unregistered, relying on exemptions from registration requirements.
CEO Fabian Battaglia expressed that this strategic financing would bolster the company's growth, particularly in developing 5G and C-Band wireless solutions. The aim is to fortify Mobix Labs' position in the market by delivering advanced connectivity and filtering products.
Chief Financial Officer Keyvan Samini noted the financial flexibility the agreement provides, essential for the company's accelerated merger and acquisition strategy. This facility is expected to enhance shareholder value and support strategic acquisitions to boost cash flow and market expansion.
These forward-looking statements are subject to risks and uncertainties, including the satisfaction of conditions for B. Riley to purchase the stock and Mobix Labs' ability to utilize the full equity facility. Factors such as market volatility, regulatory changes, and the company’s operational performance could impact the realization of these plans.
Mobix Labs specializes in mmWave 5G, C-Band wireless solutions, and electromagnetic filtering products, focusing on high-demand, high-performance communication systems. The company's recent acquisition of EMI Solutions, Inc. has expanded its product offerings in the military and aerospace sectors.
This financial development is based on a press release statement and is subject to change based on various factors that may influence Mobix Labs' operations and market conditions.
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