Mobiv Acquisition Corp Provides Update On Planned Business Combination With SRIVARU
Portfolio Pulse from Benzinga Newsdesk
Mobiv Acquisition Corp (NASDAQ:MOBVU, MOBV, MOBVW) has filed its Definitive Proxy Statement for the planned business combination with SRIVARU Holding Limited, a provider of premium electric motorcycles. The company has also entered into a Lock-Up Waiver, effective September 29, 2023, for up to 100,000 shares of Class B common stock held by Mobiv Pte. Ltd. The focus of SRIVARU is in India, a market forecast to exceed $36 billion by 2027.
September 27, 2023 | 8:42 pm
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POSITIVE IMPACT
Mobiv Acquisition Corp is progressing with its planned business combination with SRIVARU. The company has also entered into a Lock-Up Waiver for up to 100,000 shares of Class B common stock.
The news of the planned business combination with SRIVARU and the Lock-Up Waiver for up to 100,000 shares of Class B common stock is likely to have a positive impact on Mobiv's stock in the short term as it shows progress in the company's strategic plans.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mobiv Acquisition Corp is progressing with its planned business combination with SRIVARU. The company has also entered into a Lock-Up Waiver for up to 100,000 shares of Class B common stock.
The news of the planned business combination with SRIVARU and the Lock-Up Waiver for up to 100,000 shares of Class B common stock is likely to have a positive impact on Mobiv's stock in the short term as it shows progress in the company's strategic plans.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100