Mobix Labs, Inc. announced that it has entered into a subscription agreement to issue 300,000 shares of Class A common stock at a price of $10 per share and a warrant to purchase 100,000 shares of common stock at an exercise price of $0.01 per share for an aggregate gross proceeds of $3,000,000 on December 19, 2023. The transaction will include participation from individual investor Long. The company has agreed to register for resale the shares received by Long pursuant to the Subscription Agreement and upon exercise of the PIPE Warrant.

The PIPE Warrant remains outstanding and is exercisable for the same number of shares of Class A common stock. Exercise of the PIPE Warrant is subject to approval by the company?s stockholders, which stockholder approval is expected to be sought in 2024.