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IRVINE, Calif. - Mobix Labs Inc. (NASDAQ:MOBX), currently trading with a market capitalization of $35.89 million, has made an unsolicited offer to acquire Peraso Inc. (NASDAQ:PRSO) in a stock-for-stock transaction at a 20% premium to Peraso’s 30-day average closing price through June 10, according to a company press release statement.
The proposed acquisition would combine Mobix’s defense and interconnect products with Peraso’s mmWave solutions. Peraso reported $1.5 million in 5G/mmWave revenues in Q1 2025, exceeding its entire 2024 fiscal year revenue of $1.3 million in that segment.
Mobix, which generated over $10.7 million in trailing-12-month revenue with approximately 450% year-over-year growth, stated the combined entity could reach about $20 million in annual revenue.
The timing of the offer comes as Peraso faces a November 2025 deadline to raise its market capitalization to at least $35 million to maintain Nasdaq compliance. As of June 11, Peraso’s market cap stood at approximately $5.9 million. According to InvestingPro data, Mobix’s current ratio of 0.13 suggests potential liquidity challenges, making this strategic move particularly significant for both companies. Get the full analysis and detailed Fair Value assessment in the comprehensive Pro Research Report, available with your subscription.
Phil Sansone, interim CEO of Mobix Labs, said the proposal "delivers immediate value to Peraso shareholders and sets the stage for accelerated long-term growth."
Mobix submitted the non-binding proposal directly to Peraso’s Board of Directors on June 12. The company indicated it might consider alternative approaches to present its proposal directly to shareholders if Peraso’s board declines to engage.
The transaction would aim to create operational synergies in sales, production, and procurement while leveraging complementary product portfolios in defense, aerospace, AI datacenter, and 5G markets.
In other recent news, Mobix Labs, Inc. has received a notification from Nasdaq about non-compliance with its listing requirements. The company has fallen short of the minimum bid price of $1.00 per share and a market value of $35 million for its listed securities, as stipulated by Nasdaq Listing Rules 5550(a)(2) and 5550(b)(2). Mobix Labs’ common stock has been trading below these thresholds for 30 consecutive business days. The company has a 180-day period, ending on October 27, 2025, to regain compliance or face potential delisting, although an appeal option is available. Additionally, Mobix Labs has announced a registered direct offering and concurrent private placement, expected to generate $4 million in gross proceeds. This transaction involves the sale of approximately 4.9 million shares of Class A common stock at $0.8202 per share and the issuance of common stock purchase warrants at the same price. Roth Capital Partners is acting as the exclusive placement agent for this offering. The proceeds are intended for working capital and general corporate purposes.
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