Welcome to our dedicated page for Mobiv Acquisition news (Ticker: mobv), a resource for investors and traders seeking the latest updates and insights on Mobiv Acquisition stock.
Mobiv Acquisition Corp (symbol: MOBV) is a recently established blank check company dedicated to effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more entities. The Company's primary focus is on the electric vehicle and urban “smart” mobility sectors, including adjacent industries within the sustainable transportation ecosystem. This strategic focus leverages the management team's extensive background in these areas.
Currently, Mobiv is in the process of a significant business combination with SRIVARU, a company renowned for its affordable premium electric two-wheeled vehicles. SRIVARU aims to enrich the urban mobility experience with innovative and sustainable transportation solutions. Mobiv and SRIVARU's collaborative efforts are directed toward generating substantial returns for shareholders by capitalizing on growth opportunities in the evolving electric vehicle market.
Recent developments include the opportunity for shareholders to reverse their redemptions until 3:00 PM ET on the day before the closing, thereby participating in the pro-rata distribution of an additional 2.5 million shares. This plan underscores Mobiv’s commitment to providing value to its investors.
Forward-looking statements have highlighted various potential outcomes based on current projections and assumptions about future events, industry conditions, and business strategies. These statements, while not guarantees of future performance, indicate a proactive approach to navigating uncertainties and optimizing the post-merger landscape.
For those interested in further details about the business combination and related proceedings, Mobiv encourages stakeholders to review the forthcoming definitive proxy statement/prospectus and other relevant materials, which will be available through the SEC's website.
Mobiv Acquisition Corp (Nasdaq: MOBVU; MOBV; MOBVW) has entered a merger agreement with SRIVARU Holding Ltd., aiming for significant vehicle sales revenue growth in the coming years, targeting US$39 million for FY 2024, US$117 million for FY 2025, and US$553 million for FY 2026. This merger is set to establish the first U.S.-listed electric motorcycle company with manufacturing in India, addressing a rapidly expanding e-mobility market. SRIVARU has received over 700 dealer applications, with expectations of generating up to US$104 million in gross proceeds, further enhancing its manufacturing and distribution capabilities.
Mobiv Acquisition Corp. (NASDAQ: MOBV) announced that starting September 26, 2022, holders of its 8.7 million IPO units can separately trade Class A common stock and warrants. The units will continue trading under the symbol MOBVU, while Class A shares and warrants will trade under MOBV and MOBVW, respectively. No fractional warrants will be issued. The offering was underwritten by EF Hutton and a registration statement was effective as of August 3, 2022. The press release clarifies that this announcement does not constitute an offer to sell securities where such sale may be unlawful.
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