Mobiv Acquisition Corp Enters into Amendment to Non-Redemption Agreement Extending Term

Newark, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Mobiv Acquisition Corp (the “Company” or “Mobiv”) announced that on November 10, 2023, the Company entered into an amendment to that certain (a) Non-Redemption Agreement (the “NRA”) dated November 7, 2023, by and among the Company, Mobiv Pte. Ltd., and the Investors (as therein defined), and (b) that certain Securities Purchase Agreement (the “SPA”) dated as of November 7, 2023, by and among SRIVARU Holding Limited and the Investors (as therein defined), pursuant to which, in each case, and among other things, the parties thereto extended the term of the NRA and SPA, respectively.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Mobiv Acquisition Corp

Mobiv Acquisition Corp is a newly incorporated blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities, which we refer to as our initial business combination. The Company intends to focus its search for a target business in the electric vehicle and urban “smart” mobility industry that may include businesses adjacent thereto in the sustainable transportation and related ecosystem, which complement the Company’s management team’s backgrounds. The Company has not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

About SRIVARU Holding Ltd.

SRIVARU Holding Limited, a Cayman Islands exempted company (“SRIVARU”), is the parent company of SRIVARU Motor Private Ltd., a commercial-stage provider of premium e-motorbikes in India. SRIVARU was founded on the realization that while the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU provides affordable premium electric two-wheeled vehicles (“E2W”) that provide an exceptional riding experience with redundant 3-channel automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with home charging outlets. The company has a broad array of intellectual property, including a patent-pending chassis and drive acceleration system. In addition, SRIVARU offers customers a superior total cost of ownership, compared to traditional internal combustion engine motorcycles and E2W vehicle competitors. Additional information about the company is available at: http://www.srivarumotors.com/.