NEWARK, DE — Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) announced the completion of its previously disclosed business combination with SRIVARU Holding Limited (SVH), a Cayman Islands exempted company, on December 8, 2023.
The agreement, which was first entered into on March 13, 2023, and later amended on August 4, 2023, includes Pegasus Merger Sub Inc., a wholly-owned subsidiary of SVH. As per the terms of the merger agreement, SVH will now serve as the parent company of Mobiv Acquisition Corp.
This strategic business combination entails a series of transactions designed to maximize shareholder value. In connection with this transaction, Mobiv’s stockholders will receive 3.572479901 shares of the Company’s Class A common stock as incentive shares. Upon the exchange of these shares, stockholders will receive an aggregate of 4.572479901 ordinary shares of SVH. It’s important to note that no fractional securities will be issued in this deal.
Mobiv Acquisition Corp has clarified that this announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities. Furthermore, the sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of said state or jurisdiction is strictly prohibited.
This business combination represents a significant milestone in Mobiv Acquisition Corp’s growth strategy, providing a strong foundation for future expansion and value creation for its shareholders.
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