Irvine, CA-based Mobix Labs, a provider of next generation wireless mmWave 5G and connectivity solutions, and Chavant Capital Acquisition announced today a definitive merger agreement that has an implied pro forma enterprise value of approximately $276 million and an implied pro forma equity value of approximately $295 million.
If approved, Mobix Labs common stock and warrants are expected to list on the Nasdaq.
Chavant raised $80 million in a July 2021 IPO.
The transaction includes $30 million fully committed common stock PIPE. In addition, Mobix Labs has signed a non-binding term sheet with B. Riley Principal Capital for a $100 million equity line of credit to further support its growth strategy. Read more.
