Mobiv Acquisition Corp Announces Redemption Results in Connection with Planned Merger with SRIVARU Holding Limited

DELAWARE, USA, Sept. 27, 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.  The Company announces that holders of approximately 5,530,395 of the Company’s Class A Common Stock exercised their right to redeem their shares for a pro-rata portion of the available funds in the Company’s trust account, reflecting redemptions of approximately 97.5% of the total Class A Common Stock outstanding as of the Company’s contractual redemption expiration deadline of 5:00 pm Eastern Time on September 26, 2023 (the “Redemption Expiration Date”).