Mobiv Acquisition Corp Stockholders Approve Previously Announced Business Combination With SRIVARU Holding Limited
Portfolio Pulse from Benzinga Newsdesk
Mobiv Acquisition Corp's stockholders have approved the proposed business combination with SRIVARU Holding Limited, a provider of premium electric motorcycles. More than 96% of the votes cast at the special meeting voted to approve the business combination. The business combination is expected to close upon satisfaction of all closing conditions required by the Merger Agreement, at which time Mobiv will merge with and into Merger Sub, with Mobiv being the surviving company and a subsidiary of SRIVARU. Mobiv's common stock and warrants will convert into ordinary shares and warrants of SRIVARU, which are expected to begin trading on Nasdaq under the new ticker symbols 'SVMH' and 'SVMHW'.
September 29, 2023 | 12:07 pm
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Mobiv Acquisition Corp's stockholders have approved the proposed business combination with SRIVARU Holding Limited. Mobiv's common stock and warrants will convert into ordinary shares and warrants of SRIVARU, which are expected to begin trading on Nasdaq under the new ticker symbols 'SVMH' and 'SVMHW'.
The approval of the business combination by Mobiv's stockholders is a significant event that could potentially increase the value of Mobiv's shares. The conversion of Mobiv's common stock and warrants into SRIVARU's ordinary shares and warrants could also potentially increase the value of Mobiv's shares, as SRIVARU is a commercial-stage provider of premium electric motorcycles, a sector that is currently experiencing growth.
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