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Mobix Labs, Inc. (NASDAQ:MOBX), a $52 million market cap technology company, reported Thursday that it completed a series of unregistered financing transactions on August 13 and August 15 to increase its working capital and financial flexibility, according to a statement based on a recent SEC filing. InvestingPro data shows the company faces significant financial challenges, with a weak overall health score and current ratio of 0.14, indicating potential liquidity concerns.
The company entered into a Securities Purchase Agreement with Lendspark Corporation, issuing a secured promissory note with a principal amount of $550,000. The note carries a fixed annual interest rate and matures in 12 months. This financing comes as InvestingPro analysis reveals the company is quickly burning through cash, despite achieving impressive revenue growth of 180% over the last twelve months. As part of this agreement, Mobix Labs issued 150,000 shares of Class A common stock as commitment shares, granted registration rights, and provided a first-priority security interest in substantially all company assets, subject to permitted liens. In the event of default, Lendspark has the option to convert the note into up to 2,500,000 shares of Class A common stock at a fixed price of $0.70 per share. The note also includes provisions for the company to issue additional shares or make cash payments under certain conditions.
In a separate transaction, Mobix Labs entered into a Business Loan and Security Agreement with Maximcash Solutions LLC, receiving $600,000 in loan proceeds secured by all company assets. The company issued 93,750 shares of Class A common stock as commitment shares and pledged 1,500,000 additional shares as collateral, which Maximcash may use only in the event of default. Maximcash was also granted registration rights.
On August 15, Mobix Labs completed an equity transaction with an accredited investor, selling 1,052,725 shares of Class A common stock at $0.95 per share for gross proceeds of approximately $1.0 million. The investor also received a warrant to purchase 500,045 shares at $0.96 per share, exercisable over three years.
All securities issued in these transactions were made under exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933 and/or Rule 506(b) of Regulation D.
Mobix Labs’ Class A common stock and redeemable warrants trade on the Nasdaq Capital Market under the symbols MOBX and MOBXW, respectively.
In other recent news, Mobix Labs reported quarter-over-quarter revenue growth in its filter and interconnect products for the second quarter of 2025. The company’s EMI Filter Solutions subsidiary has seen increased production orders from U.S. defense contractors and aerospace applications, including military systems and satellite technologies. In a strategic move, Mobix Labs has proposed an acquisition of Peraso Inc (NASDAQ:PRSO). in a stock-for-stock transaction, offering a 20% premium to Peraso’s 30-day average closing price through June 10. This acquisition aims to merge Mobix’s defense and interconnect products with Peraso’s mmWave solutions. Peraso recently reported $1.5 million in 5G/mmWave revenues for Q1 2025, surpassing its total 2024 revenue in that segment. Additionally, Mobix Labs appointed CEO Philip Sansone to its board of directors, with his term set to expire at the 2028 Annual Meeting of Stockholders. Sansone has been with the company since 2021, initially serving as Vice President of Worldwide Sales. These developments reflect Mobix Labs’ ongoing strategic efforts and growth initiatives.
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