Peraso faces pressure as Mobix Labs offers enhanced cash-and-stock acquisition deal

Mobix Labs, Inc. (Nasdaq: MOBX) has upgraded its acquisition proposal for Peraso, Inc. (Nasdaq: PRSO) by introducing a cash component, transforming its initial all-stock offer into a mixed deal designed to deliver both immediate liquidity and sustained upside for Peraso shareholders. The enhanced bid escalates pressure on Peraso’s board, which has so far declined to engage in any formal dialogue, even as Mobix Labs signals readiness to take the matter directly to shareholders.

The revised acquisition terms arrive amid broader uncertainty around Peraso’s financial trajectory, with institutional sentiment increasingly weighing the relative benefits of a strategic tie-up versus standalone execution risk. In contrast, Mobix Labs framed the new proposal as a rare dual-benefit opportunity—combining near-term cash value with longer-term participation in a strengthened, defense-oriented connectivity business.

Why is Mobix Labs offering a combined cash-and-stock acquisition structure to Peraso shareholders?

In a formal statement, Mobix Labs emphasized that its improved offer reflects both “value now” through an immediate cash payout and “growth ahead” through equity in the combined business. President and Chief Financial Officer Keyvan Samini described the deal as a “rare opportunity” for Peraso shareholders to gain exposure to a broader and more competitive enterprise without foregoing upfront compensation.

The upgraded structure appears calibrated to address likely concerns from Peraso’s investor base, many of whom may view an all-stock transaction as too speculative, especially amid market volatility in the semiconductor and connectivity sectors. By offering cash on close, Mobix Labs has introduced a de-risked exit path, while also positioning the combined entity as a scaled player in mission-critical communications and defense solutions.

Analysts tracking M&A activity in small-cap tech and connectivity plays noted that cash-stock hybrids are often more palatable in contested acquisitions, especially when the target company has a limited cash runway or uncertain growth visibility.

What has been Peraso’s response to Mobix Labs’ initial and revised proposals?

Despite repeated outreach from Mobix Labs, Peraso’s board has yet to engage in direct discussions. The revised proposal comes with a deadline: Mobix has requested a response by 5:00 p.m. PT on Monday, September 8, 2025. If Peraso continues to rebuff negotiations, Mobix has indicated it is prepared to take the offer directly to shareholders—signaling the potential for a hostile bid or a tender offer.

While Mobix Labs reiterated its preference for a “cooperative, negotiated transaction,” the absence of board-level engagement from Peraso suggests ongoing hesitation or an internal preference for alternative strategic pathways. Market observers believe the Peraso board may be weighing options ranging from capital raises to third-party offers, but Mobix’s public pressure campaign could shift the narrative quickly.

Institutional sentiment appears divided, with some investors viewing Mobix as offering a viable path to value creation, while others remain skeptical of integration risk and near-term synergies.

What does Mobix Labs gain strategically from acquiring Peraso at this stage?

Mobix Labs, which is listed on Nasdaq under the ticker MOBX, has grown as a provider of advanced connectivity and defense-focused technologies, with applications across mission-critical communications platforms. By acquiring Peraso, the company would gain immediate access to mmWave (millimeter-wave) silicon IP and a portfolio of high-frequency wireless solutions that complement its existing RF front-end and phased-array technologies.

The strategic overlap also strengthens Mobix’s end-market exposure in areas such as fixed wireless access, 5G infrastructure, and next-generation defense systems. From a platform perspective, the addition of Peraso’s IP could help Mobix expand its vertical integration and extend design ownership deeper into the signal chain.

Additionally, in a macro environment where geopolitical tensions are accelerating investment in defense and secure communications, a larger, vertically integrated Mobix Labs could benefit from procurement tailwinds—especially as defense primes and federal agencies consolidate vendor relationships.

How are financial markets reacting to the ongoing acquisition effort between Mobix Labs and Peraso?

As of the latest trading session, Mobix Labs (MOBX) and Peraso (PRSO) have seen modest fluctuations in volume but no dramatic price swings, suggesting that investors are awaiting further clarity. Volatility could increase depending on Peraso’s response—or lack thereof—by the September 8 deadline.

In the absence of a formal board engagement from Peraso, speculative sentiment may build around the potential for a direct-to-shareholder campaign or an escalation into a public proxy battle. That said, the presence of a cash component may alter the calculus for many retail and institutional investors, especially those looking to de-risk holdings in Peraso given its recent capital needs and operational challenges.

At the same time, Mobix’s stock performance could also come under scrutiny if investors believe the combined entity lacks near-term margin accretion or if financing terms around the cash portion become a point of concern.

What are the major risks surrounding Mobix Labs’ enhanced acquisition proposal for Peraso?

Mobix’s own forward-looking statements acknowledged a number of material risks associated with the proposed transaction. Chief among them are the possibility that Peraso’s board continues to reject engagement, that regulatory approvals may be delayed or denied, and that financing for the cash component could face cost or availability constraints.

Other risks include potential litigation, integration-related disruption, employee attrition, or competitive responses from rival vendors. Additionally, volatility in the share prices of both Mobix and Peraso could affect deal economics, particularly in a mixed transaction where equity value is sensitive to short-term market sentiment.

Mobix also flagged the possibility that Peraso may entertain or receive competing strategic proposals. This suggests that the company is preparing not just for negotiation, but potentially for a bidding environment or public campaign.

What is the outlook for this acquisition—and for shareholders of Mobix Labs and Peraso?

With a deadline now publicly in play, the next few days are likely to be decisive. If Peraso’s board engages, the two companies could proceed toward a negotiated outcome that satisfies both shareholder bases. If not, Mobix’s willingness to go directly to shareholders could kick off a broader M&A contest, including the possibility of a tender offer or proxy battle.

For Mobix Labs, a successful deal could accelerate its roadmap in the RF and defense connectivity markets and position it as a mid-cap consolidator. For Peraso shareholders, the cash-plus-stock proposal offers a tangible value floor alongside upside optionality—an increasingly attractive structure in a market fraught with capital scarcity for small-cap tech firms.

Analysts say that if Mobix can secure backing from a significant portion of Peraso’s shareholder base—or trigger activist involvement—it could reshape the deal dynamics quickly. In either scenario, attention is now squarely on the Peraso board’s next move.