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Chavant Capital (CLAY) Closes Mobix Labs Deal


Chavant Capital (CLAY) Closes Mobix Labs Deal

Chavant Capital (NASDAQ:CLAY) has closed its combination with semiconductor maker Mobix Labs and the combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “MOBX” and “MOBXW” later today.

The parties did not divulge the final proceeds of the deal, but Chavant earlier this week announced it had added $16.9 million in PIPE funding to the combination and was working to tack on up to $3.5 million more.

The deal was announced with a $30 million PIPE, but the parties will not be counting on major contributions from the SPAC’s trust as its shares were reduced to 37,299 outstanding after 99.5% in redemptions through its extension and completion votes.

Chavant Capital inked its $276 million business combination with Mobix Labs in November 2022. Irvine, California-based Mobix Labs is a fabless semiconductor company developing disruptive wireless and connectivity solutions.

It holds 43 patents with 55 more pending and it is projecting 60% gross margins and 30% operating margins once its product portfolio is fully launched in 2025.


  • B. Riley Securities is serving as financial advisor to Mobix Labs.
  • Needham & Company, LLC is serving as financial advisor to Chavant.
  • Simpson Thacher & Bartlett LLP is serving as legal advisor to Chavant.
  • Greenberg Traurig, LLP is serving as legal advisor to Mobix Labs.
  • DLA Piper LLP (US) is serving as legal counsel to B. Riley Securities and Needham & Company, LLC.
  • Blueshirt Capital Advisors is also serving as an investor relations advisor to Mobix Labs.