04/09/2026 | Press release | Distributed by Public on 04/09/2026 15:21
Item 3.03 Material Modification to Rights of Security Holders.
On April 2, 2026, Mobix Labs, Inc. (the "Company") filed a Certificate of Amendment to the Company's Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware (the "Certificate of Amendment"), which became effective at 4:00 p.m. Eastern Time on April 6, 2026, and implemented a one-for-ten (1:10) reverse stock split (the "Reverse Stock Split") of the Company's issued and outstanding shares of Class A Common Stock and Class B Common Stock, each with a par value $0.00001 per share (together, the "Common Stock"). In connection with the Reverse Stock Split, the CUSIP number for the Common Stock changed to 60743G209. The trading symbol for the Common Stock remains "MOBX".
As a result of the Reverse Stock Split, every ten (10) shares of Common Stock issued and outstanding were converted into one (1) share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Cash will be paid in lieu of fractional shares for any fractional shares of Common Stock resulting from the Reverse Stock Split. The Reverse Stock Split affects all stockholders uniformly and does not alter any stockholder's percentage ownership interest in the Company, except for adjustments related to fractional shares. The Reverse Stock Split will also proportionately adjust the number of shares available under the Company's equity incentive plan and the exercise price and number of shares underlying stock options and warrants outstanding on the day the Reverse Stock Split was effective, in each case in accordance with their terms. The Reverse Stock Split did not change the par value of the Common Stock or the authorized number of shares of Common Stock.
Additionally, the Company has instructed Continental Stock Transfer and Trust Company ("Continental") to send a notice to the holders of the Company's outstanding: (i) public warrants to purchase up to 600,000 shares of Class A Common Stock; and (ii) private placement warrants to purchase up to 340.000 shares of common stock (the "Private Placement Warrants"), in each case, pursuant to that certain Warrant Agreement between Chavant Capital Acquisition Corporation and Continental, as warrant agent, dated December 21, 2023, informing the holders that, as a result of the Reverse Stock Split, each Public Warrant and Private Placement Warrant will become exercisable for 1/10th of a share of common stock at an exercise price of $57.90 per share.
The foregoing description of the Certificate of Amendment is a summary of the material terms thereof, does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment, which is filed with this Current Report on Form 8-K as Exhibit 3.1 and is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
The information set forth in Item 3.03 is hereby incorporated by reference into this Item 5.03.