Mobix Labs announces intention to commence hostile exchange offer for Peraso

Mobix Labs (MOBX) announced that it has filed a Form 425 with the U.S. Securities and Exchange Commission formally announcing its intention to commence a hostile exchange offer to acquire all outstanding shares of Peraso (PRSO). The proposed offer is expected to consist of a mix of cash and Mobix Labs common stock, which Mobix Labs believes will provide Peraso shareholders both immediate value and ongoing participation in the upside of the combined company. Mobix Labs has access to an equity line of credit with a headline capacity of up to $100 million. The actual amount available under this facility depends on share availability and prevailing market prices, which may limit the company’s ability to draw the full amount at any given time. Nevertheless, Mobix Labs believes that this facility, together with other available sources of financing, will provide sufficient resources to fund the proposed tender offer. The company expects to be in a position to close the transaction within approximately 75 days of commencement if Peraso does not actively interfere with the transaction.