Chavant Capital Acquisition in a proxy filing seeks shareholder approval for a six-month extension to close its deal with 5G solutions provider Mobix Labs.
The SPAC wants to push the merger deadline from from July 22 to Jan. 22, 2024.
Chavant raised $80 million in a July 2021 IPO and presently has 856,042 shares outstanding.
Announced in November, the transaction includes a $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.
Irvine, CA-based Mobix Labs is a provider of next generation wireless mmWave 5G and connectivity solutions. Read more.
