Mobix Labs Announces Amendment to Senior Secured Convertible Note and Entry into Investor Rights Agreement with Leviston Resources

IRVINE, Calif.--(BUSINESS WIRE)--Mobix Labs, Inc. (Nasdaq: MOBX) today announced that, on May 13, 2026, it entered into agreements with Leviston Resources, LLC (i) amending the Company's existing senior secured convertible note (the "Convertible Note") to increase the principal amount from $3.0 million to $4.0 million in exchange for an additional cash advance of approximately $833,000, and (ii) granting Leviston the right, but not the obligation, to acquire, over a seven-month period, additional senior secured convertible notes of up to $4.0 million in aggregate principal amount on terms substantially similar to the Convertible Note and secured on a pari passu basis. The material terms of the Convertible Note, including its variable conversion price formula, were previously disclosed in the Company's Current Report on Form 8-K filed with the SEC on April 3, 2026. Additional detail will be set forth in the Company's Quarterly Report on Form 10-Q.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the potential issuance of additional senior secured convertible notes under the Investor Rights Agreement, the Company's anticipated use of proceeds from such issuances, the pari passu status of any additional notes, the Company's intended SEC filings, and the satisfaction of conditions to any additional closings. Words such as "anticipate," "believe," "expect," "intend," "may," "plan," "will," "would," and similar expressions are intended to identify forward-looking statements. These statements are based on the Company's current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied, including, but not limited to: whether the Investor elects to exercise, in whole or in part, its rights under the Investor Rights Agreement; the dilutive effect on existing stockholders of any conversion of the existing senior secured convertible note or any additional notes issued, including by reason of the variable conversion price formula thereunder; declines in the trading price of the Company's Class A Common Stock, which would directly reduce the conversion price of the notes and increase the number of shares issuable upon conversion; the Company's ability to satisfy its obligations under the notes, including its payment, reservation, registration, and listing obligations; the Company's ability to maintain the listing of its Class A Common Stock on the Nasdaq Capital Market; the Company's ability to obtain any stockholder approval that may be required under Nasdaq Listing Rule 5635(d); the Company's ability to file and maintain the effectiveness of one or more resale registration statements covering the underlying shares; the Company's ability to satisfy conditions precedent to any additional closings; risks associated with the senior secured nature of the notes and the rights of the Investor upon any event of default; and the other risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

About Mobix Labs

Mobix Labs, Inc. (Nasdaq: MOBX) is a defense and dual-use technology company headquartered in Irvine, California, supplying advanced components and wireless technologies to aerospace, defense, homeland security, and other high-reliability applications.

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