Mobiv Acquisition Corp. (NASDAQ:MOBV) announced that it has added a pool of 2,500,000 bonus shares that would be distributed to its non-redeeming shareholders at the close of its combination with SRIVARU.
It has not yet specified whether these shares are to be newly issued or come out of Mobiv’s sponsor holdings. But, if the latter is the case, the pool would absorb nearly all of Mobiv’s 2,501,250-share promote.
Mobiv also announced that its underwriter EF Hutton has agreed to accept $1 million in cash and a 12-month right of participation at close instead of its full underwriting commission of $3.5 million in cash.
Alongside these tweaks, the parties provided an update SRIVARU’s operations since they announced the $195 million combination in March. Coimbatore, India-based SRIVARU makes a line of electric motorcycles with designed for South Asian markets with features like the ability to charge with existing home electricity outlets.
SRIVARU recently launched its improved Prana 2.0 smart battery that can provide a battery life of up to 150,000 kilometers (93,205 miles). India’s motorcycle market is expected to grow to $36 billion by 2027, with EVs making up about half of that by 2030.
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...