Mobix Labs Secures $2M in Dilutive Convertible Financing and Eliminates Super-Voting Class B Shares
MOBX is trading near its 52-week low of $1.03 (9.2% above the low) on light trading volume (0.1× avg).
Summary
Mobix Labs raised $2M in new toxic convertible financing with floating conversion prices and issued $960K in extension shares, while simultaneously eliminating its dual-class share structure.
Key Events · Financing and Capital Events · MOBX
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New $1.2M Toxic Convertible Note
Leviston Resources purchased a $1.2M senior secured convertible note for $1.0M cash (16.667% OID), convertible at the lesser of the Aug 28 closing price or 85% of the lowest 8-day VWAP, maturing December 28, 2026.
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$3.6M Additional Note Pipeline
A new Investor Rights Agreement grants Leviston the right to purchase up to $3.6M in additional notes (for $3.0M cash) over the next 7 months, on identical toxic terms.
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Kips Bay Second Closing
Kips Bay purchased 1,000 additional Series A preferred shares for $1.0M plus a warrant for 6,000 preferred shares at $1,000 exercise price, and received 834,782 Extension Shares valued at $960,000 as an extension fee.
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Class B Super-Voting Eliminated
All Class B Common Stock converted to Class A on August 24, 2026, eliminating 10-vote-per-share rights and Class B director election powers; three Class B directors were automatically terminated then immediately re-appointed as Class A directors.
Analysis · MOBX · Manufacturing
On August 28, 2026, Mobix Labs entered into two new toxic financing arrangements. A $1.2M senior secured convertible note was issued to Leviston Resources for $1.0M cash, carrying a floating conversion price at 85% of the lowest 8-day VWAP. The note also includes a 16.667% original issue discount, 10% interest, and a maturity of just four months. In a second closing, Kips Bay Select purchased 1,000 preferred shares plus a warrant. Critically, the new Investor Rights Agreement grants Leviston the right to purchase up to $3.6M more in notes over the next seven months — a potential death-spiral pipeline. The company also issued 834,782 Extension Shares to Kips Bay as a $960,000 fee for extending a stockholder meeting deadline. Separately, all Class B super-voting shares converted to Class A on August 24, eliminating the 10-vote-per-share structure and collapsing the dual-class governance. This comes just days after the company filed a PRE 14A seeking approval for up to 15 million dilutive shares to convert toxic preferred stock and notes, and follows a $16.8M quarterly loss with going concern doubts disclosed on August 18.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 44.3% of the 601 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MOBX was trading at $1.13 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $18.8M. The 52-week trading range was $1.03 to $14.40. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.