Mobix Labs, Inc. completed the acquisition of RaGE Systems, Inc for $17.6 million.
May 20, 2024
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Mobix Labs, Inc. (NasdaqGM:MOBX) signed a definitive agreement to acquire RaGE Systems, Inc. for $17.6 million on May 9, 2024. Total consideration consisted of approximately $2 million in cash, approximately $10 million worth of Mobix Labs stock and possible earn-out payments of up to $8 million over eight fiscal quarters in a combination of cash and stock upon satisfaction of certain financial metrics. The transaction is expected to close in May 2024.
Mobix Labs, Inc. (NasdaqGM:MOBX) completed the acquisition of RaGE Systems, Inc. on May 21, 2024. Pursuant to the Business Combination Agreement, the Company will deliver 3,214,045 shares of Class A common stock, par value $0.00001 per share (?Class A Shares?) to the RaGE Systems stockholders. In addition, RaGE Systems stockholders will be paid an aggregate cash amount of $2.0 million as follows: (a) $0.2 million was paid on the Closing Date; (b) $1.0 million will be paid on November 15, 2024 and (c) $0.8 million will be paid on April 15, 2025. Moreover, subject to achievement of certain milestones, the RaGE Systems stockholders will also be entitled to receive possible earn-out payments of up to $8.0 million over eight fiscal quarters in a combination of cash and stock.
Mobix Labs, Inc. is a fabless semiconductor company. The Company is engaged in developing disruptive next generation wireless and connected solutions that are designed to cater to a range of applications in markets including 5G infrastructure, satellite communications, automotive, consumer electronics, e-mobility, healthcare, infrastructure and defense. Through its True5G and True Xero technologies, the Company develops ultra-compact, fully integrated, single-chip, single-die, complementary metal-oxide-semiconductor (CMOS)-based beamformers, antenna solutions and radio frequency (RF)/mixed signal semiconductors, as well as hybrid active optical cables, transceivers and optical engines. The Companyâs products include True Xero Active Optical Cables, True Xero Enterprise Solutions, True 5G Chipset, FR4 PCB Antenna Series, and others.