Chavant Capital Acquisition in a proxy filing seeks shareholder approval to push its completiuon deadline from from July 22 to Jan. 22, 2024. The SPAC said it needs more time to finalize its proposed merger with Mobix Labs, a deal with an implied pro forma enterprise value of approximately $276 million.
Announced in November, 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.
Irvine, CA-based Mobix Labs is a provider of next generation wireless mmWave 5G and connectivity solutions.
Chavant raised $80 million in a July 2021 IPO. Read more.
