Mobix Labs Moves Closer to Acquiring Peraso Following Successful Management Meeting
Mobix Labs Acquisition Proposal: Mobix Labs has proposed to acquire Peraso, offering stockholders a mix of 30% cash and 70% common stock, aiming to close the transaction within 75 days.
Strategic Fit and Value Creation: The acquisition is expected to enhance revenue growth, create cost synergies, and expand Mobix Labs' product portfolio, positioning the combined company to better compete in the aerospace, defense, and wireless markets.
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Analyst Recommendation: Benchmark has reiterated a Buy recommendation for Peraso (NasdaqCM:PRSO) as of December 5, 2025, with a projected one-year price target of $2.79/share, indicating a potential upside of 195.41% from its current price of $0.95/share.
Projected Revenue Growth: Peraso's projected annual revenue is expected to reach $84 million, reflecting a significant increase of 547.79%, alongside a projected non-GAAP EPS of 0.04.
Institutional Ownership Trends: There has been a 4.55% increase in the number of funds reporting positions in Peraso, with total institutional shares owned rising by 30.97% to 350,000 shares over the last three months.
Shareholder Activity: Notable changes in shareholder positions include Acadian Asset Management increasing its stake, while Renaissance Technologies significantly reduced its holdings by over 286%, indicating varied strategies among institutional investors.
Confidentiality Agreement: Mobix Labs has entered into a mutual confidentiality agreement with Peraso, Inc. to explore a potential acquisition, marking a shift from previous unsolicited offers to a more collaborative approach.
Strategic Potential: The CEO of Mobix Labs expressed optimism about combining their high-reliability connectivity solutions with Peraso's wireless expertise to create a diversified technology platform with global reach.
Forward-Looking Statements: The announcement includes forward-looking statements regarding the potential acquisition, emphasizing the uncertainties and risks involved in the discussions and any future transactions.
No Current Offer: The press release clarifies that it does not constitute an offer to purchase or solicit any securities, and no tender offer has been initiated at this time.
Zacks Rank Upgrade: Peraso (PRSO) has been upgraded to a Zacks Rank #1 (Strong Buy) due to a significant increase in earnings estimates, indicating a positive outlook for the company's stock price.
Earnings Estimate Revisions: The Zacks rating system, which correlates earnings estimate revisions with stock price movements, suggests that Peraso's improved earnings outlook positions it for potential market-beating returns in the near term.

Mobix Labs' Acquisition Intent: Mobix Labs has filed a Form 425 with the SEC to initiate a hostile exchange offer to acquire all outstanding shares of Peraso, proposing a mix of cash and stock to provide immediate value and future growth potential for Peraso shareholders.
Concerns Over Peraso's Actions: Mobix Labs criticizes Peraso's board for attempting to limit communication with shareholders and for engaging in dilutive financing during the sale process, which Mobix believes undermines shareholder value and makes Peraso less attractive to potential buyers.
Strategic Benefits of the Merger: The proposed merger aims to combine Peraso's millimeter wave technology with Mobix Labs' aerospace and defense capabilities, creating a more diversified and competitive entity in the market.
Financing and Transaction Timeline: Mobix Labs has access to a $100 million equity line of credit to fund the acquisition and anticipates closing the transaction within approximately 75 days, contingent on various regulatory and shareholder approvals.

Mobix Labs Acquisition Proposal: Mobix Labs has proposed to acquire Peraso, offering stockholders a mix of 30% cash and 70% common stock, aiming to close the transaction within 75 days.
Strategic Fit and Value Creation: The acquisition is expected to enhance revenue growth, create cost synergies, and expand Mobix Labs' product portfolio, positioning the combined company to better compete in the aerospace, defense, and wireless markets.

Acquisition Proposal: Peraso Inc. has received two letters from Mobix Labs regarding an unsolicited acquisition offer, which includes a revised proposal involving cash and stock, but Mobix Labs refuses to enter a confidentiality agreement.
Board's Response: The Board of Directors of Peraso has authorized a limited exploratory call with Mobix Labs to discuss the proposal, while maintaining that no material non-public information will be shared without a confidentiality agreement.






