IRVINE, Calif. - Thursday, 14. May 2026
Proposed
Acquisition Would Position Mobix Labs Inside Strategic U.S. Supply
Chains Powering Defense, National Security, and AI Infrastructure
(BUSINESS
WIRE)--Mobix Labs, Inc. (Nasdaq: MOBX) today announced it has signed a
non-binding Letter of Intent to acquire Special Project Delivery LLC
("SPD"), a strategic infrastructure platform building sovereign U.S.
supply chains for rare earth elements, critical minerals, and energy
storage.
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The
proposed acquisition would expand Mobix Labs — already a supplier to
advanced U.S. and allied defense and aerospace systems — directly into
one of the world's most strategically important industrial sectors.
Key Facts at a Glance
~418 kilograms of rare earth materials are estimated to be used in each F-35 Lightning II.
~4,500 kilograms of rare earth materials are estimated to be used in each Virginia-class nuclear submarine.
Tens
of billions of dollars are already being deployed globally toward
strategic critical-minerals infrastructure, with potential to reach
hundreds of billions over the coming decade.
China dominates
significant portions of global rare earth mining and refining, according
to widely cited industry and government sources.
NATO, AUKUS, and
Five Eyes nations have publicly identified rare earth independence as a
defining geopolitical priority of the coming decade.
Beginning in
2027, new U.S. Department of Defense restrictions on certain
Chinese-origin rare earth magnet materials are expected to accelerate
allied demand.
Why This Moment Matters
"In my decades leading
Microsemi, I watched our defense and aerospace customers grow
increasingly dependent on a narrow set of strategic materials they could
not always source securely," said James Peterson, Chairman of the Board
of Mobix Labs and former Chief Executive Officer of Microsemi. "Today,
rare earths and critical minerals have become one of the defining
competitive battlegrounds of the next decade. SPD is the right platform
at exactly the right moment — federally aligned, technically validated,
and assembled by an exceptional team. We believe the combination with
SPD provides Mobix Labs and its shareholders substantial long-term
opportunity."
A Platform Built for America's Critical Minerals Push
Founded
in 2019, SPD has assembled a U.S. critical-minerals and energy platform
aligned with the major federal initiatives reshaping the Western
industrial base — including Project Vault, the recently announced $12
billion U.S. Export-Import Bank public-private partnership for
critical-resource resilience, the Defense Production Act, and the DOE
Loan Programs Office.
SPD's work includes recovery of rare earth
elements from underutilized domestic feedstock — including legacy U.S.
coal ash — using extraction technologies validated by U.S.
defense-research partners. SPD is publicly aligned with the U.S.
Departments of Energy and Defense, Lawrence Berkeley National
Laboratory, two of the largest U.S. utility participants, and three
institutional financial partners.
SPD is led by Co-Founder and
CEO Paul Singarella, a former Latham & Watkins partner trained at
MIT, and Co-Founder and CFO John Dewey, who brings over $2 billion of
cumulative infrastructure-development responsibility.
No F-35. No Submarine. No Missile. Without Rare Earths.
There
is no F-35 Lightning II without rare earth materials. No F-22 Raptor.
No F/A-18. No Virginia-class submarine. No Arleigh Burke-class
destroyer. No Patriot or THAAD interceptor. No Tomahawk. No Javelin. No
advanced radar. No defense satellite. No AI data center.
Rare
earths and critical minerals are increasingly viewed as the oil of the
modern defense, aerospace, AI, and advanced-industrial economy — and the
same platforms that depend on them already incorporate Mobix Labs
technologies today.
An American-Led Supply Chain Backed by Washington and Our Allies
From
the United States and United Kingdom to Australia, Canada, Japan, South
Korea, and India, allied nations are racing to build independent,
non-China supply chains for strategic materials. The proposed Mobix–SPD
combination would sit directly inside that transformation.
"SPD
was built to onshore the materials, technologies, and infrastructure
defining national sovereignty in the 21st century — rare earths,
critical minerals, and the energy systems powering the AI Industrial
Revolution," said Paul Singarella, Co-Founder and CEO of SPD. "A
combination with Mobix Labs would pair our platform directly with a
publicly traded defense and dual-use technology company already
operating inside the defense and aerospace ecosystems our materials are
built to supply."
Mobix Labs intends to help build the sovereign industrial infrastructure powering that future.
Transaction Status
The
Letter of Intent with SPD is non-binding and establishes a framework
for due diligence and negotiation of definitive agreements. No assurance
can be given that a definitive agreement will be executed or that the
proposed transaction will be completed.
About Mobix Labs
Mobix
Labs, Inc. (Nasdaq: MOBX) is a defense and dual-use technology company
headquartered in Irvine, California, supplying advanced components and
wireless technologies to aerospace, defense, homeland security, and
other high-reliability applications.
About Special Project Delivery LLC
Special
Project Delivery LLC ("SPD") is a privately held U.S. infrastructure
development platform with positions across critical minerals, energy
storage, and Western U.S. water infrastructure. SPD was formed in 2019
and is headquartered in Newport Beach, California.
Forward-Looking Statements
This
press release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, each as amended, and is intended to be
covered by the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as well as similar provisions under
applicable non-U.S. securities laws. Forward-looking statements include,
but are not limited to, statements regarding: the proposed acquisition
of Special Project Delivery LLC ("SPD"); the anticipated benefits,
strategic significance, scope, structure, and timing of the proposed
acquisition; the negotiation, execution, and consummation of definitive
agreements; SPD's pipeline, capital architecture, federal-program
alignment, technology validation, leadership, and operational
milestones; SPD's positions across critical minerals, energy storage,
and Western U.S. water infrastructure; the size, growth, and trajectory
of the global rare earth and critical-minerals market; the expected
impact of U.S. Department of Defense sourcing restrictions, Project
Vault, the Defense Production Act, the DOE Loan Programs Office, and
other federal industrial-policy initiatives; geopolitical, regulatory,
and trade developments; estimates of rare earth and critical-mineral
consumption per defense platform; allied-nation industrial and
procurement priorities; and Mobix Labs' broader business strategy,
growth, prospects, and outlook in defense, aerospace, critical minerals,
and adjacent markets. These statements are typically identified by
words such as "anticipate," "believe," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "project," "should," "will,"
"would," and similar expressions.
Forward-looking statements are
based on Mobix Labs' current expectations and assumptions and are
subject to known and unknown risks, uncertainties, and other factors
that could cause actual results to differ materially from those
expressed or implied. Such factors include, but are not limited to: the
ability of the parties to negotiate and execute definitive agreements
within the contemplated timeframe or at all; the satisfaction of
customary closing conditions; the results and findings of due diligence;
the ability to complete the proposed transaction on the anticipated
terms or at all; the ability to realize the anticipated strategic,
commercial, or financial benefits of the proposed transaction; the
ability to integrate any acquired business and retain key personnel;
SPD's ability to advance its pipeline, secure federal-program
participation, and achieve operational milestones; the actual size,
timing, and growth of the rare earth and critical-minerals market; the
development and commercialization of rare earth extraction technologies,
including those involving legacy coal ash feedstock; geopolitical,
regulatory, trade, export-control, and tariff developments, including
Chinese export policies and U.S. defense sourcing restrictions; capital
markets conditions and the availability of financing; competition; the
ability of the combined business to participate in federal
industrial-policy programs; macroeconomic conditions; and the other
risks described in Mobix Labs' filings with the U.S. Securities and
Exchange Commission, including its most recent Annual Report on Form
10-K and subsequent reports on Forms 10-Q and 8-K, which are available
at www.sec.gov.
The Letter of Intent with SPD is non-binding, and
there can be no assurance that the parties will execute a definitive
agreement, that the proposed transaction will be completed, or that the
anticipated strategic, commercial, or financial benefits will ultimately
be realized. Estimates of rare earth and critical-mineral consumption
per defense platform reflect publicly available industry and government
sources and are subject to variance. Readers are cautioned not to place
undue reliance on any forward-looking statements, which speak only as of
the date of this release. Except as required by applicable law, Mobix
Labs undertakes no obligation to update or revise any forward-looking
statement.
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Contacts
MOBX Investor Relations Contacts
Chris Eddy or David Collins
Catalyst IR
mobx@catalyst-ir.com or 212-924-9800
