Mobix Labs issued a $1.2 million senior secured convertible promissory note to Leviston Resources for $1 million principal, bearing 10% annual interest and maturing December 25, 2026, with conversion rights tied to stock price metrics. The company also sold Series A Convertible Preferred Stock and warrants to Kips Bay Select LP for $1,000 in gross proceeds, issuing 834,782 extension shares as consideration. Concurrently, all outstanding Class B Common Stock converted to Class A, terminating the ten-vote-per-share supermajority rights and the separate election of three Class B directors. Consequently, Frederick Goerner, Keyvan Samini, and James Peterson’s terms ended automatically but were immediately reappointed to newly created directorships on an expanded five-to-eight-member board. Mobix Labs operates in the biotechnology sector, focusing on drug discovery technologies.
