Mobix Labs Announces Unsolicited, Non-Binding Proposal To Acquire Peraso In Premium Stock-For-Stock Transaction

~ Increasing revenue, combining scale, and realizing immediate synergies ~

~ Creating a dominant force in high-growth mmWave and defense semiconductor markets ~

~ Securing Nasdaq listing stability for Peraso shareholders ~

Mobix Labs, Inc. (NASDAQ:MOBX) ("Mobix") today announcedan unsolicited, non-binding proposal to acquire Peraso, Inc. (NASDAQ:PRSO) ("Peraso") in a premium stock-for-stock transaction.

Under the proposed terms, Mobix will exchange newly issued MOBX common shares for each PRSO share at a 20% premium to Peraso's 30-day average closing share price through June 10, 2025.

Transaction Highlights & Shareholder Benefits

• Revenue Accretion & Scale:
  • Peraso Q1 2025 revenue exceeded that for its entire 2024 fiscal year.
  • Peraso delivered approximately $1.5 million in 5G/mmWave revenues in Q1 2025, compared to an annual revenue of $1.3 million in 5G/mmWave revenues for fiscal year 2024. This significant increase in mmWave revenue reflects a strong 5G/mmWave semiconductor demand.
  • Mobix generated over $10.7 million in trailing-12-month revenue, posting an exceptional ~450% YoY growth.
  • The combined company could command approximately $20 million in annual revenue, enhancing scale and accelerating profitability.
• Margin Enhancement & Operational Leverage:
  • Based on publicly available data, Peraso has reported gross margins of approximately 57% in 2024, which closely aligns with Mobix's historical performance.
  • Scale-driven synergies in sales, production, and procurement are expected to improve overall profitability.
• Product & Market Synergies:
  • Peraso's market-leading 5G/mmWave chipsets and software complement Mobix's established platforms in defense, aerospace, AI datacenter, and 5G markets.
  • Integration of Peraso's IP will unlock cross-selling opportunities across Mobix's defense, satellite, and datacenter customer base, accelerating time-to-market and widening margins.
• Immediate Value to Peraso Shareholders:
  • Apremium offer at +20% above 30-day average price, coupled with exposure to Mobix's rapidly growing revenue base and broadened sector diversification.
  • Enhanced access to capital markets and Nasdaq-listed equity, enabling stronger liquidity and investor reach compared to standalone execution.
  • Continued upside potential through synergy realization, efficiency gains, and joint innovation in high-growth semiconductor verticals.
• Market Cap and Listing Risk:
  • As of June 11, 2025, Peraso's market capitalization is approximately $5.9 million, reflecting a closing share price of $1.15 and roughly 5.1 million shares outstanding.
  • According to Peraso's recent SEC filings, the company must raise its market value to at least $35 million by November 2025 to maintain Nasdaq compliance. Mobix believes its proposal provides a viable path to meeting that requirement through strategic scale and access to capital markets
  • Mobix's proposal not only offers a 20% premium but offers a strategic path forward that preserves Nasdaq listing, enhances scale, and delivers immediate value to Peraso shareholders.

Mobix Labs has submitted this non-binding proposal directly to the Peraso Board of Directors on June 12, 2025, and is issuing a press release and filing a Form 8-K to ensure full transparency, as Peraso has not disclosed Mobix Labs' unsolicited offer as of this date. Should Peraso's board decline to engage, Mobix Labs is prepared to consider alternative avenues to present its proposal directly to shareholders, consistent with regulatory requirements.