Mobix Labs announces exercise of warrants for $4.5M gross proceeds

Mobix Labs (MOBX) entered into an agreement with a holder of its existing warrants for the immediate exercise of certain of its warrants to purchase up to an aggregate of 5,486,467 shares of Class A common stock of the Company at the current exercise price of $0.8202 per share. The shares of common stock issuable upon exercise of the existing warrants are registered for resale pursuant to an effective registration statement on Form S-1. The aggregate gross proceeds from the exercise of the existing warrants is expected to total approximately $4.5 million, before deducting financial advisory fees. Roth Capital Partners is acting as the Company’s financial advisor for this transaction. In consideration for the immediate exercise of the existing warrants for cash, the Company will issue new unregistered warrants to purchase shares of common stock. The new warrants will be exercisable for an aggregate of up to 8,229,701 shares of common stock, at an exercise price of $1.08 per share and will be exercisable upon stockholder approval and have a term of five years from the date of stockholder approval. The transaction is expected to close on or about September 4, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.