Mobix Labs, Inc. announced the immediate exercise of certain warrants, resulting in $4.5 million gross proceeds.
The company entered into an agreement for the purchase of 5,486,467 shares of common stock at $0.8202 per share.
Roth Capital Partners is the financial advisor for this transaction, involving the issuance of new unregistered warrants.
Gross Proceeds
$4.5 million is expected from the exercise of existing warrants before financial advisory fees.
New Unregistered Warrants
8,229,701 new warrants will be issued at an exercise price of $1.08 per share upon stockholder approval.
Use of Proceeds
Net proceeds from the offering will be used for working capital and general corporate purposes.
Private Placement
The new warrants were offered in a private placement, exempt from registration under the Securities Act of 1933.
- The exercise of warrants boosts the company's capital by $4.5 million for future growth initiatives.
- Issuance of new unregistered warrants expands the potential shareholder base and raises additional funds.
- Roth Capital Partners' involvement indicates strategic financial planning and support for Mobix Labs.
Mobix Labs' strategic move to exercise warrants and issue new warrants demonstrates a commitment to financial strength and growth. The company's focus on key market sectors aligns with its goal of advancing communication technologies.