MOBIX LABS, INC (MOBX): debt financing — Chavant Capital amends SPAC merger with Mobix Labs; extends deadline to Jan 22, 2024

MOBIX LABS, INC

Amendment No. 2 extends outside date to Jan 22, 2024, sets exchange ratio at 1:1, removes $5M net tangible assets condition.
PIPE Warrant issued for 700,000 shares of Mobix Labs at $0.01/share to ACE SO4 Holdings for consent to amendment.
Nov 30: Chavant issued $325,000 Promissory Note to sponsor at 10% interest, due upon earlier of closing or one year.
Supplemental disclosure: Mobix Labs holders expected to own ~77.5% Class A, 100% Class B, 87.4% combined voting power (no redemptions).
Public shareholders expected to hold ~2.7% Class A, initial shareholders 6.9%, PIPE investor 12.9% (no redemptions).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MOBIX LABS, INC incurred loan of up to $325,000 with Chavant Capital Partners LLC (the "Sponsor") at 10.0% per annum maturing upon the earlier of (i) the consummation of the Proposed Transaction and (ii) one year from the date of issuance.

Instrument: loan
Principal: up to $325,000
Counterparty: Chavant Capital Partners LLC (the "Sponsor")
Rate: 10.0% per annum
Maturity: upon the earlier of (i) the consummation of the Proposed Transaction and (ii) one year from the date of issuance
Event: incurrence

Exact text from the filing

On November 30, 2023, Chavant issued an unsecured note (the “Promissory Note”) in the aggregate principal amount of up to $325,000 to its sponsor, Chavant Capital Partners LLC (the “Sponsor”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MOBIX LABS, INC amended Amendment No. 2 with Chavant, Mobix Labs, Merger Sub (effective 2023-11-26).

Action: amendment
Agreement: merger
Counterparty: Chavant, Mobix Labs, Merger Sub
Effective: 2023-11-26

Exact text from the filing

Amendment No. 2 to the Business Combination Agreement On November 26, 2023, Chavant entered into Amendment No. 2 (“Amendment No.

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MOBIX LABS, INC filing history →

Source: SEC EDGAR

accession 0001104659-23-122449

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