Expect significant downward pressure on MOBX stock as Leviston converts at a discount to VWAP, creating continuous selling. Monitor for stockholder meeting to approve additional conversions beyond the 19.99% cap. The deregistration of the ELOC suggests that financing source is exhausted. The company's cash runway is likely very short given the $29M market cap and this small raise.
Price Chart
Executive Summary
Mobix Labs issued a $2.8M senior secured convertible note to Leviston Resources, receiving net proceeds of ~$2.33M after a 16.667% original issue discount. The note carries 10% interest, matures October 22, 2026, and is convertible into common stock at a floating discount to VWAP (85% of lowest 8-day VWAP). Concurrently, the company deregistered 950,000 shares from its equity line of credit. This is a distressed financing with highly dilutive conversion terms, signaling acute cash needs.
Key Financial Metrics
Key Facts
- $2.8M principal senior secured convertible note issued to Leviston Resources, LLC
- Net proceeds of ~$2.33M after 16.667% original issue discount ($466,667)
- 10% annual interest, maturity October 22, 2026
- Conversion price is the lesser of closing price on issuance date and 85% of lowest 8-day VWAP
- Conversion limited to 19.99% of outstanding shares without stockholder approval (Exchange Cap)
- Company filed post-effective amendment to deregister 950,000 shares from existing equity line of credit
- Note is senior secured, ranking ahead of all existing and future indebtedness
- Registration rights amendment requires filing of resale registration statement by July 31, 2026
Financial Impact
Dilutive financing of $2.8M principal with floating conversion price at a discount to market; potential dilution of up to 19.99% of outstanding shares without stockholder approval, and more with approval. The OID effectively means the company received only $2.33M for $2.8M in debt.
Risk Factors
- Severe dilution from floating-rate conversion mechanism
- Potential default if company cannot meet mandatory repayment obligations (40% of future proceeds)
- Nasdaq delisting risk if stock price continues to decline
- Limited cash runway; may require further distressed financing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-030338 |
| Exhibit: ex10-1.htm | 0001493152-26-030338 |
| Document: form8-k.htm | 0001493152-26-030338 |
| Document: 0001493152-26-030338-index-headers.html | 0001493152-26-030338 |
| Document: 0001493152-26-030338-index.html | 0001493152-26-030338 |
| Document: 0001493152-26-030338.txt | 0001493152-26-030338 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $0.7320 | awaiting T+20 | — | $0.7590 (+3.69%) |
Oct 16, 2026 9d ago | DEFA14A | $0.7450 | awaiting T+20 | — | $0.7590 (+1.88%) |
Oct 16, 2026 9d ago | 8-K | $0.7450 | awaiting T+20 | — | $0.7590 (+1.88%) |
Oct 9, 2026 16d ago | DEFA14A | $0.7800 | awaiting T+20 | — | $0.7590 (−2.69%) |
Oct 9, 2026 16d ago | 8-K | $0.7800 | awaiting T+20 | — | $0.7590 (−2.69%) |
Oct 8, 2026 18d ago | 144 | $1.13 | awaiting T+20 | — | $0.7590 (−32.83%) |
Sep 4, 2026 7w ago | EFFECT | $0.9301 $0.6501 | ▲ +30.10% | ▲ +30.71% | $0.7590 (+18.40%) |
Aug 28, 2026 8w ago | S-1 | $1.32 $0.8419 | ▲ +36.22% | ▲ +36.03% | $0.7590 (+42.50%) |
Aug 28, 2026 8w ago | 8-K | $1.32 $0.8419 | ▲ +36.22% | ▲ +36.03% | $0.7590 (+42.50%) |
Jul 17, 2026 14w ago | EFFECT | $1.97 $1.27 | ▲ +35.53% | ▲ +39.98% | $0.7590 (+61.47%) |
US Market Status
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