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Mobiv Acquisition Corp is a blank check company focused on mergers, acquisitions, and business combinations in the electric vehicle and urban mobility industry. With a management team experienced in sustainable transportation, the company aims to find target businesses that align with their expertise.
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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