Irvine-based chip company Mobix Labs started public trading today, falling 32% to $7.25 per share shortly before 1 p.m. in New York.
Mobix Labs (Nasdaq: MOBX)Â develops next-generation connectivity technologies for 5G infrastructure, satellite communications and defense industries.
It became a publicly traded company as a result of closing its business combination with Chavant Capital Acquisition Corp.
Mobix Labs’ current management team will continue to lead the company.
