Articles from MOBIV ACQUISITION CORP.

Former Tesla Executive, Mohanraj Ramasamy, assumes role as CEO of the combined companies

Former Tesla Executive, Mohanraj Ramasamy, assumes role as CEO of the combined companies

Newark, Delaware, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company” or “Mobiv”) announced that on December 8, 2023, the Company consummated the previously announced business combination with SRIVARU Holding Limited, a Cayman Islands exempted company (“SVH” or “SRIVARU”), and Pegasus Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the SVH (“Merger Sub”), pursuant to the business combination agreement which was initially entered into on March 13, 2023, among the Company, SVH and Merger Sub, as amended by the first amendment to agreement and plan of merger, dated August 4, 2023 (as amended, the “Merger Agreement”). Pursuant to the Merger Agreement, several transactions will occur, and in connection therewith, SVH will be the parent company of the Company (the “Business Combination”).

Newark, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (the “Company” or “Mobiv”) announced that on November 10, 2023, the Company entered into an amendment to that certain (a) Non-Redemption Agreement (the “NRA”) dated November 7, 2023, by and among the Company, Mobiv Pte. Ltd., and the Investors (as therein defined), and (b) that certain Securities Purchase Agreement (the “SPA”) dated as of November 7, 2023, by and among SRIVARU Holding Limited and the Investors (as therein defined), pursuant to which, in each case, and among other things, the parties thereto extended the term of the NRA and SPA, respectively.

NEWARK, DE, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that on November 7, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate an initial business combination from November 8, 2023 to December 8, 2023 (the “Extension”). The Extension is the seventh of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) will deposit an aggregate of $100,000.00 into the Company’s trust account on or before November 8, 2023, on behalf of the Company.

Newark, DE, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (the “Company” or “Mobiv”) announced that it intends to enter into a Lock-Up Waiver, to be effective November 7, 2023, with the underwriter of the Company’s initial public offering (the “Underwriter”) whereby the Underwriter will agree to waive certain lock-up restrictions applicable to up to 2,441,250 shares of Class B common stock and 543,300 shares of Class A common stock held by Mobiv Pte. Ltd., in connection with incentivizing certain investors to acquire shares of the Company’s Class A common stock currently subject to the exercise of the Company shareholders’ redemption rights, with a view toward withdrawing the exercise of such redemption.

DELAWARE, USA, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (“Mobiv”), a special purpose acquisition company, announced today that, as of September 30, 2023, the trust value was $61,120,249.39. 

Newark, DE , Oct. 06, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that, on October 5, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate an initial business combination from October 8, 2023 to November 8, 2023 (the “Extension”). The Extension is the sixth of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) will deposit an aggregate of $100,000.00 into the Company’s trust account on or before October 8, 2023, on behalf of the Company.

Deadline to reverse Mobiv share redemptions and participate in the pro rata distribution of 2.5 million additional SRIVARU shares is 3:00PM ET on the day before closing

Transaction anticipated to close upon satisfaction of all closing conditions

Newark, Delaware, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announces that it has filed its Definitive Proxy Statement in connection with the planned business combination with SRIVARU Holding Limited (“SRIVARU”), a commercial-stage provider of premium electric motorcycles.  The Company also reports it has entered into a Lock-Up Waiver, effective September 29, 2023, whereby the underwriter of the Company’s initial public offering agreed to waive certain lock-up restrictions applicable to up to 100,000 shares of Class B common stock held by the Mobiv Pte. Ltd., in connection with compensation to be paid in connection with the closing of the planned business combination.  

Shareholders electing to redeem have until approximately 3:00 pm Eastern Time on the day prior to closing to reverse their redemptions and participate in a pro rata distribution of the additional 2.5 million shares

DELAWARE, USA, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that, on September 5, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate an initial business combination from September 8, 2023 to October 8, 2023 (the “Extension”). The Extension is the fifth of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) deposited an aggregate of $100,000.00 into the Company’s trust account on September 5, 2023, on behalf of the Company.

Purpose-built chassis offers balanced weight distribution and superior ride comfort

DELAWARE, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, today provided a business update and announced that it has entered into an amendment (the “Amendment”) to the agreement and plan of merger dated as of March 13, 2023 (the “Merger Agreement”), with SRIVARU Holding Limited, a Cayman Islands exempted company (“SRIVARU”), a commercial-stage provider of premium electric motorcycles.

Newark, Delaware, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that, on August 7, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate an initial business combination from August 8, 2023 to September 8, 2023 (the “Extension”). The Extension is the fourth of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) will deposit an aggregate of $100,000.00 into the Company’s trust account on or before August 8, 2023, on behalf of the Company.

Newark, Delaware, June 05, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that, on June 1, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate its previously announced business combination with SRIVARU Holding Ltd. (“SRIVARU”), a commercial-stage provider of premium electric motorcycles, from June 8, 2023 to July 8, 2023 (the “Extension”). The Extension is the second of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) will deposit an aggregate of $333,166.50 into the Company’s trust account on or before June 8, 2023, on behalf of the Company.

New battery system provides enhanced rider experience, industry-leading safety features and extended battery life of more than 150,000 kilometers

Newark, Delaware, April 28, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (the “Company”), a special purpose acquisition company, announced today that, on April 24, 2023, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate an initial business combination from May 8, 2023 to June 8, 2023 (the “Extension”). The Extension is the first of up to nine one-month extensions permitted under the Company’s governing documents. In connection with such Extension, Mobiv Pte. Ltd. (the “Sponsor”) will deposit an aggregate of $333,166.50 into the Company’s trust account on or before May 8, 2023, on behalf of the Company.

SRIVARU targeting vehicle sales revenue of US$39 million for the fiscal year ending March 31, 2024, US$117 million for the fiscal year ending March 31, 2025, and US$553 million for the fiscal year ending March 31, 2026