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.