Mobix Labs Secures $100M Committed Equity Facility
Portfolio Pulse from Benzinga Newsdesk
Mobix Labs Inc. (NASDAQ:MOBX) has entered into a $100 million common stock purchase agreement with B. Riley Principal Capital II, LLC, enhancing its financial flexibility for future growth and M&A strategy. This agreement allows B. Riley to purchase up to $100 million of Mobix Labs Class A common stock, with the terms of the sale at Mobix Labs' discretion. The funding is aimed at accelerating the development of disruptive mmWave 5G and C-Band wireless solutions, as well as supporting strategic acquisitions to expand into new markets and enhance shareholder value.
March 19, 2024 | 12:07 pm
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Mobix Labs Inc. has secured a $100 million equity facility with B. Riley, aimed at funding growth and M&A activities, particularly in the development of 5G solutions.
The agreement with B. Riley provides Mobix Labs significant financial flexibility and resources to pursue its growth strategy, including the development of next-generation wireless solutions and strategic acquisitions. This move is likely to be viewed positively by investors, as it signals confidence in Mobix Labs' future prospects and its commitment to expanding its market presence and product offerings in the 5G sector.
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