Loan & DebtJun 26, 2026, 05:11 PM
Mobix Labs Issues $2.8M Convertible Note to Leviston Resources
AI Summary
Mobix Labs, Inc. issued a senior secured convertible promissory note with a principal amount of $2.8 million to Leviston Resources, LLC, receiving gross proceeds of approximately $2.3 million. The note carries a 10% annual interest rate and matures on October 18, 2026, with an option for Leviston to convert outstanding amounts into Class A Common Stock, subject to stockholder approval. Concurrently, the company filed a post-effective amendment to deregister 950,000 shares of Class A Common Stock related to a previous equity line of credit.
Key Highlights
- Mobix Labs issued a senior secured convertible promissory note for $2.8 million to Leviston Resources, LLC.
- The company received gross proceeds of approximately $2.3 million from the note issuance.
- The note bears interest at 10% per annum and matures on October 18, 2026.
- Leviston may convert principal and accrued interest into Class A Common Stock, subject to stockholder approval.
- Conversion price is the lesser of the June 22, 2026 closing price and 85% of the lowest eight-day VWAP.
- The company also deregistered 950,000 shares of Class A Common Stock previously registered for potential resale.
Price Impact
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