TSX drops after Canadian index edges higher in prior session
Peraso Inc. (NASDAQ:PRSO) announced Thursday that it has entered into a mutual confidentiality agreement with Mobix Labs, Inc. The agreement is related to Peraso’s ongoing review of strategic alternatives.
According to a statement in a press release, the agreement includes customary terms, such as mutual 12-month standstill and non-solicitation provisions. The confidentiality arrangement was executed as part of Peraso’s evaluation of potential options for the company.
Peraso, a semiconductor company based in San Jose, California, disclosed the development in a filing with the U.S. Securities and Exchange Commission. The company’s common stock is listed on the Nasdaq Stock Market.
No further details regarding the nature of the strategic alternatives under consideration or additional terms of the agreement were provided in the filing. The information is based on a press release statement included in Peraso’s SEC filing.
In other recent news, Peraso Inc. has secured non-cancelable purchase orders totaling $0.5 million for its memory integrated circuit products that are being phased out. These orders are part of the company’s end-of-life program and are expected to be fulfilled by the fourth quarter of 2025. Additionally, Peraso has increased the maximum amount of common stock available for sale under its at-the-market offering agreement with Ladenburg Thalmann & Co. Inc., allowing for an additional $1.75 million in shares to be offered. The company also updated its outstanding securities, reporting 7,579,223 shares of common stock and one share of Series A special voting preferred stock as of October 3. In another development, Peraso has regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price above $1.00 for ten consecutive trading days. Furthermore, the company received a $0.9 million order for its PRM2141X modules from a leading global fixed wireless access equipment supplier, marking a significant purchase for Peraso’s 60GHz technology.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.