Mobiv Acquisition Corp Provides Further Update on Planned Merger with SRIVARU Holding Limited and Bonus Pool Shares

Newark, DE, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (“Mobiv” or the “Company”), a special purpose acquisition company, today provided a business update regarding the planned merger with SRIVARU Holding Limited, a Cayman Islands exempted company (“SRIVARU”), a commercial-stage provider of premium electric motorcycles.  Pursuant to the Merger Agreement, Mobiv plans to merge with and into Merger Sub, with Mobiv being the surviving company and a subsidiary of SRIVARU. Upon closing of business combination, Mobiv’s common stock and warrants will convert into ordinary shares and warrants of SRIVARU. SRIVARU’s ordinary shares and warrants are expected to begin trading on Nasdaq under the new ticker symbols "SVMH" and “SVMHW,” respectively.