MOBIX LABS Converts $4M Convertible Note to Equity, Terminates Agreements

Key Highlights

• Mobix Labs amended its senior secured convertible note, increasing the principal from $3 million to $4 million.
• The company received an additional cash advance of $833,333 from Leviston Resources, LLC.
• Mobix Labs entered into an Investor Rights Agreement, granting Leviston the option to acquire up to $4.0 million in additional secured convertible notes.
• The entire $4 million principal of the original note, plus accrued interest, was converted into 2,500,000 shares of Class A Common Stock.
• The original note, securities purchase agreement, and registration rights agreement were fully satisfied and terminated.
• The issuance of shares was exempt from registration under Section 3(a)(9) of the Securities Act.