Chavant Capital Acquisition Corp. enters into PIPE subscriptions and updates on business combination with Mobix Labs

MOBIX LABS, INC

Sage Hill Investors commits $15M PIPE at $10.00/share for 1,500,000 shares of Class A Common Stock.
Sponsor to forgive ~$1,997,370 of Chavant obligations and forfeit 658,631 founder shares and 400,000 private warrants.
Additional PIPE: $500,000 signed; $3.0M indicated but not yet executed; warrants to be issued.
Minimum cash condition: at least $15M needed; Chavant in discussions to reduce expenses or withdraw redemptions.
Warrant exercise price may adjust if Newly Issued Price < $9.20 and Market Value < $9.20 per share.

Key facts

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

MOBIX LABS, INC entered into "Sage Hill PIPE Subscription Agreement" with Sage Hill Investors, LLC valued at $15,000,000 (effective 2023-12-18).

Action: entry
Agreement: equity purchase
Counterparty: Sage Hill Investors, LLC
Value: $15,000,000
Effective: 2023-12-18

Exact text from the filing

As of December 18, 2023, Chavant entered into a subscription agreement with Sage Hill Investors, LLC (“Sage Hill”) and Mobix Labs (the “Sage Hill PIPE Subscription Agreement”) pursuant to which Sage Hill has agreed to purchase, in a private placement to close substantially concurrently with the Closing of the Proposed Transaction, 1,500,000 shares of Class A Common Stock in cash at a price of $10.00 per share for an aggregate purchase price of $15,000,000

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Source: SEC EDGAR

accession 0001104659-23-127135

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