Irvine-based chip startup Mobix Labs Inc. says it’s aiming for a public listing on the Nasdaq in the current quarter, while it’s looking forward to closing on a key local acquisition soon.
President and Chief Financial Officer Keyvan Samini said he’s happy with how things are going toward the public listing.
“We’re continuing with our 5G product development,” he told the Business Journal on Nov. 8.
He said he expects the acquisition of Irvine-based EMI Solutions to be closed “in the next 10 days or so.”
EMI makes products to reduce the amount of unwanted noise and electromagnetic interference on military and aerospace electronics systems.
“When we close this next deal, we’re going to bring on about 18 employees” in Irvine, adding to the approximately 28 already part of Mobix Labs.
“We have two term sheets out with other entities that are potential acquisition targets,” he said, referring to the outlines for potential deals.
“These are all going to add to our top line and bottom line.”
James “Jimmy P” Peterson, who previously ran Aliso Viejo chipmaker Microsemi, serves as Mobix Labs executive chairman.
Mobix Labs plans to go public via a special purpose acquisition company (SPAC) Chavant Capital Acquisition Corp. (Nasdaq: CLAY).
Indie Semiconductor Grows Backlog Nearly 50%
Automobile tech company Indie Semiconductor Inc. (Nasdaq: INDI) said its strategic backlog increased to $6.3 billion, up 47% from the same period a year ago, as the Aliso Viejo-based company sees increasing uses for its products.
“As vehicles transform into extensions of your personal living spaces, the emphasis on creating a seamless, intuitive and comfortable passenger environment has never been greater, reflecting a paradigm shift in consumer preferences towards a holistic user experience,” CEO Donald McClymont told stock analysts on Nov. 9.
“Such advancements underscore the importance of integrating technology with comfort, eliminating cumbersome cables and promoting a clutter-free environment.”
Earlier that day, the company reported third-quarter revenue grew 101% to $60.5 million, topping its own forecast and the analyst consensus for $60 million. It expects fourth-quarter revenue in the $70 million to $75 million range, or more than doubled from the same period a year ago.
“Given the strength of our order visibility and new product pipeline, we plan to continue to far outpace our addressable markets over the long run,” Chief Financial Officer Thomas Schiller said in a statement.
The company’s shares had fallen in half since March, touching their 52-week low of $4.67 on Nov. 1; they increased 14% to $5.64 on Nov. 10 after reporting its third-quarter results. It closed at $6.55 per share on Nov. 14, pushing the market cap up to $1.1 billion.