Peraso board authorizes exploration of strategic alternatives

Peraso (PRSO) announced that its board of directors has authorized the exploration of strategic alternatives, including a merger, sale of assets or other similar transaction, all intended to maximize stockholder value and further its business operations. The Company has retained Craig-Hallum Capital Group as its financial advisor to assist with the exploration process. The Company, in making this announcement, notes that there can be no assurance that the exploration process will result in any strategic alternative, or as to its outcome or timing. As part of this process, the Board is also continuing to evaluate the unsolicited non-binding proposal from Mobix Labs (MOBX), which was previously disclosed on June 27. In addition, management is pursuing a wide variety of potential funding arrangements to address its short-term cash needs and provide the capital necessary to support its operations, while at the same time conserving cash by delaying or deferring certain expenditures.