Mobix Labs: $4M convertible note fully converted into 2.5M shares; new $4M note rights granted

MOBIX LABS, INC

• Amended convertible note with Leviston from $3M to $4M, received additional $833,333 cash advance.
• Entire $4M principal plus interest converted into 2,500,000 shares of common stock, satisfying note in full.
• Original note, securities purchase agreement, and registration rights agreement terminated upon full conversion.
• Leviston granted right to acquire up to $4M additional secured convertible notes over seven months on similar terms.
• Conversions exempt from registration under Section 3(a)(9) of Securities Act; Leviston never held >4.99% of shares.