Mobiv Acquisition Corp Announces Pricing of $87 Million Initial Public Offering
04 August 2022 - 12:00AM
Mobiv Acquisition Corp (NASDAQ: MOBV, the “Company”) announced
today that it priced its $87 million initial public offering of
8,700,000 units at $10.00 per unit. The units are expected to be
listed on The NASDAQ Global Market (“NASDAQ”) and trade under the
ticker symbol “MOBVU” beginning on August 4, 2022. Each unit
consists of one share of Class A common stock and one redeemable
warrant. Each warrant entitles the holder to purchase one share of
Class A common stock at a price of $11.50 per share. Once the
securities comprising the units begin separate trading, the Class A
common stock and warrants are expected to be listed on NASDAQ under
the symbols “MOBV,” and “MOBVW,” respectively. The offering is
expected to close on August 8, 2022, subject to customary closing
conditions.
The underwriters have been granted a 45-day
option to purchase up to an additional 1,305,000 units offered by
the Company to cover over-allotments, if any.
EF Hutton, division of Benchmark Investments,
LLC, acted as sole book running manager in the offering.
Rimon, P.C. served as legal counsel to the
Company. Loeb & Loeb LLP served as legal counsel to EF
Hutton.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on August 3, 2022 on Form S-1 (File No. 333-265353). The
offering is being made only by means of a prospectus, copies of
which may be obtained by contacting EF Hutton, division of
Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison
Avenue, 39th Floor, New York, New York 10022, by telephone at (212)
404-7002, by fax at (646) 861-4697, or by email at
syndicate@efhuttongroup.com. Copies of the registration statement
can be accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Mobiv
Acquisition
Corp
Mobiv Acquisition Corp is a blank check company
formed for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company has not
selected a business combination target and has not, nor has anyone
on its behalf, initiated any substantive discussions, directly or
indirectly, with any business combination target. The Company
intends to focus its search for a target business in the electric
vehicle (“EV”) and urban “smart” mobility industry that may include
businesses adjacent thereto in the sustainable transportation and
related ecosystem, which complement the Company’s management team’s
backgrounds. The Company is led by its Chief Executive Officer,
Peter Bilitsch.
Forward
Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of the Company's initial public offering, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements, including those set forth in the Risk
Factors section of the Company's registration statement and
preliminary prospectus for the offering filed with the SEC. Copies
are available on the SEC's website, www.sec.gov. The Company
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact: Mobiv Acquisition
Corp850 Library Avenue, Suite 204Newark, Delaware 19711Attn.: Mr.
Peter BilitschChief Executive OfficerEmail:
peter.bilitsch@mobiv.acTel.: +60 (17) 35 65 866
SOURCE: Mobiv Acquisition
Corp
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