Mobix Labs files Form 425 with U.S. SEC announcing intention to acquire Peraso

Mobix Labs (MOBX) announced that 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. Following exploratory discussions, Peraso’s board of directors conditioned further engagement on Mobix Labs agreeing not to communicate directly with Peraso shareholders – a demand that, in Mobix Labs’ view, deprives investors of transparency and a fair assessment of their options. Mobix Labs believes Peraso’s most recent financing agreement is highly dilutive and raises serious governance concerns as it is undertaken in the middle of a sale process. In Mobix Labs’ view, the proposed combination would unite Peraso’s 60 GHz millimeter wave product line with Mobix Labs’ fast-growing aerospace, defense, and wireless businesses, creating a more diversified competitor with greater scale, technology breadth, and customer reach.