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NetworkNewsBreaks – Mobiv Acquisition Corp. (NASDAQ: MOBVU) Announces Closing of IPO and Exercise of Full Over-Allotment Option

Company: Mobiv Acquisition Corp. (MOBVU)
Category: News

Mobiv Acquisition Corp. (NASDAQ: MOBVU) has announced the closing of its initial public offering of 8,700,000 units at $10.00 per unit. According to the update, 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, each at a price of $11.50. The underwriters exercised their over-allotment option in full for an additional 1,305,000 units on Aug. 4, 2022, and the over-allotment option was closed with the offering. Aggregate gross proceeds to Mobiv, including the over-allotment, total $100,050,000, prior to deducting underwriting discounts, commissions, and other offering expenses. The company’s units commenced trading on the Nasdaq Global Market on Aug. 4 under the ticker symbol MOBVU. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols MOBV and MOBVW, respectively. 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, and Loeb & Loeb LLP served as legal counsel to EF Hutton.

To view the full news release, visit https://nnw.fm/Ul4nG

About Mobiv Acquisition Corp.

Mobiv 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. While the company may pursue an initial business combination target in any business or industry, it 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 CEO Peter Bilitsch.

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