# EDGAR Filing Document

**Accession Number:** 0001931691
**File Stem:** 0001193125-23-068572
**Filing Date:** 2023-3
**Character Count:** 32257
**Document Hash:** 85ecc99da97c1be6cc2ece0d4188828c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-068572.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001193125-23-068572

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20230313

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mobiv Acquisition Corp
- **CENTRAL INDEX KEY:** 0001931691
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 874345206
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41464
- **FILM NUMBER:** 23725934

**BUSINESS ADDRESS:**
- **STREET 1:** 850 LIBRARY AVENUE
- **STREET 2:** SUITE 204
- **CITY:** NEWARK
- **STATE:** CT
- **ZIP:** 19711
- **BUSINESS PHONE:** 4847632101

**MAIL ADDRESS:**
- **STREET 1:** 850 LIBRARY AVENUE
- **STREET 2:** SUITE 204
- **CITY:** NEWARK
- **STATE:** CT
- **ZIP:** 19711

?xml version="1.0" encoding="utf-8" ? 8-K

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15(d)

#### OF THE SECURITIES EXCHANGE ACT OF 1934

#### Date of Report (Date of earliest event reported): March 13, 2023

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## MOBIV ACQUISITION CORP

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-41464** | **87-4345206** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

#### 850 Library Avenue, Suite 204

#### Newark, Delaware 19711

#### (Address of principal executive offices, including zip code)

#### Registrant's telephone number, including area code: (302) 738-6680

#### Not Applicable

#### (Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Units, each consisting of one share of Class A common stock, par value $0.000001 per share, and one warrant to acquire one share of Class A common stock | MOBVU | The Nasdaq Stock Market LLC |
| Class A common stock included as part of the Units | MOBV | The Nasdaq Stock Market LLC |
| Warrants included as part of the Units | MOBVW | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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#### Item 7.01 Regulation FD Disclosure.
On March 13, 2023, Mobiv Acquisition Corp, a Delaware corporation ("Mobiv"), issued a press release announcing its entry into an agreement and plan of merger (as it may be amended, supplemented or otherwise modified from time to time, the "Merger Agreement") with SRIVARU Holding Limited, a Cayman Islands exempted company ("SVH"), and Pegasus Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of SVH ("Merger Sub," and together with Mobiv and SVH, each a "Party" and collectively the "Parties"). Pursuant to the terms of the Merger Agreement, a business combination between Mobiv and SVH will be effected through the merger of Merger Sub with and into Mobiv, with Mobiv surviving the merger as a wholly owned subsidiary of SVH (the "Merger," and together with the other transactions contemplated by the Merger Agreement and the other agreements contemplated thereby, the "Transactions"). The board of directors of Mobiv (the "Board") has unanimously (i) approved and declared advisable the Merger Agreement and the Transactions and (ii) resolved to recommend the approval and adoption of the Merger Agreement and the Transactions by the stockholders of Mobiv ("Mobiv Stockholders"). The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The statements under this Item 7.01 and Exhibit 99.1 are being furnished pursuant to Item 7.01 and will not be deemed to be filed for purposes of Section 18 of the Exchange Act or otherwise be subject to the liabilities of that section, nor will they be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act.

#### Important Information for Investors and Stockholders
This document relates to a proposed transaction between Mobiv and SVH. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. SVH intends to file a registration statement on Form F-4 with the SEC, which will include a document that serves as a prospectus and proxy statement of Mobiv, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Mobiv Stockholders. Mobiv and SVH also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Mobiv are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SVH and Mobiv through the website maintained by the SEC at www.sec.gov.

#### Participants in the Solicitation
Mobiv, SVH and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Mobiv's Stockholders in connection with the proposed transaction. A list of the names of the respective directors and executive officers of Mobiv and SVH and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any 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 such other jurisdiction.

#### Forward-Looking Statements
All statements contained in this Current Report on Form 8-K other than statements of historical facts, contain certain statements that are forward-looking statements. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "continue," "may" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean a statement is not forward looking. Indications of, and guidance or outlook on, future earnings, dividends or financial position or performance are also forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Forward-looking statements are predictions,

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projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Most of these factors are outside Mobiv's and SVH's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Merger Agreement; (ii) the outcome of any legal proceedings that may be instituted against Mobiv and/or SVH following the announcement of the Merger Agreement and the transactions contemplated therein; (iii) the inability to complete the Transactions, including due to failure to obtain approval of the Mobiv Stockholders, certain regulatory approvals, or the satisfaction of other conditions to Closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise cause the transaction to fail to close; (v) the impact of the COVID-19 pandemic on SVH's business and/or the ability of the parties to complete the Transactions; (vi) the inability of SVH to successfully list its ordinary shares and warrants on the Nasdaq Stock Market following the Transactions; (vii) the risk that the Transactions disrupt current plans and operations as a result of the announcement and consummation of the Transactions; (viii) the ability to recognize the anticipated benefits of the Transactions, which may be affected by, among other things, competition, the ability of SVH to grow and manage growth profitably, and the ability of SVH to retain its key employees; (ix) costs related to the Merger; (x) changes in applicable laws or regulations; and (xi) the possibility that SVH or Mobiv may be adversely affected by other economic, business, and/or competitive factors. The foregoing list of factors is not exhaustive. Additional information concerning certain of these and other risk factors is contained in Mobiv's most recent filings with the SEC, including Mobiv's Prospectus, filed with the SEC on August 3, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained herein. All subsequent written and oral forward-looking statements concerning Mobiv or SVH, the transactions described herein or other matters attributable to Mobiv, SVH or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Each of Mobiv and SVH expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law.

#### Item 9.01 Financial Statements and Exhibits.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | [Press release, dated March 13, 2023](d378914dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
| Dated: March 13, 2023 | **Mobiv Acquisition Corp** | **Mobiv Acquisition Corp** | **Mobiv Acquisition Corp** |
|  | By: | /s/ Peter Bilitsch | /s/ Peter Bilitsch |
|  |  | Name: | Peter Bilitsch |
|  |  | Title: | Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1** 

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| | |
|:---|:---|
| ![LOGO](g378914g0313095026547.jpg) | ![LOGO](g378914g0313095026355.jpg) |

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**SRIVARU, a Leading Commercial-Stage Provider of Premium E-Motorbikes,** 

**to Become Publicly Listed on Nasdaq via Business Combination with Mobiv** 

*SRIVARU targeting vehicle sales revenue of US$39 million for the fiscal year ending March 31, 2024,* 

*US$117 million for the fiscal year ending March 31, 2025, and US$553 million for the fiscal year ending March 31, 2026* 

Delaware, USA and Coimbatore, India - March 13, 2023 – Mobiv Acquisition Corp (Nasdaq: MOBVU; MOBV; MOBVW) ("Mobiv"), a special purpose acquisition company with a focus on electric vehicles, today announced it has entered into a definitive merger agreement whereby Mobiv will combine with SRIVARU Holding Ltd. ("SRIVARU"), a commercial-stage provider of premium electric motorcycles, to create a new publicly traded company. The transaction is expected to provide SRIVARU with access to additional capital and position the company to accelerate the commercial rollout-out of its electric two-wheeled ("E2W") vehicles in the Indian market.

**Key transaction highlights:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *The transaction is expected to result in the first U.S.-listed electric motorcycle company with manufacturing facilities based in India, one of the world's largest and fastest-growing markets for two-wheeled vehicles (source: UnivDatos (UMI))* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *The Indian motorcycle market is expected to reach revenues of US$25.6 billion in 2023, growing to US$36.1 billion by 2027 (source: Statista/Mobility Markets Insights/Motorcycle Market India)* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Electric motorcycles in India have significant growth potential, currently representing less than 1% market share, and are forecast to reach a 45-50% market share by 2030 (source: Statista/Bain & Company)* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SRIVARU developed India's fastest mass production electric motorcycle on the road, featuring state-of-the-art technology, engineering, a three-channel efficient braking system, safety features and other innovations* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SRIVARU's distribution and service network is expected to be nationwide in India, with more than 700 dealer applications received* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SRIVARU has a capital-efficient business model, including highly scalable, low-cost manufacturing, assembly and distribution; it is expected to enable attractive sales prices with high margins* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *SRIVARU is led by an industry pioneer and former senior Tesla executive, Mohan Ramasamy, and a seasoned team* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *The transaction is expected to provide SRIVARU with access to capital in the U.S. public markets to rapidly scale sales and marketing across India and enter international markets* 

SRIVARU is one of the leading providers of premium electric motorcycles in India, the world's largest and fastest-growing market for two-wheeled vehicles. As an industry-leading, all-electric motorcycle and micro-mobility company, SRIVARU is redefining the E2W segment, which is a large and significant segment within the overall mobility industry. Building on its years of research and established market presence, SRIVARU plans to expand across India and into other markets with a goal of advancing a carbon-free future.

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![LOGO](g378914g0313095026725.jpg)

Prana Grand: India's premium electric motorcycle

Peter Bilitsch, CEO of Mobiv, stated, "We are excited to announce this transformative transaction, which we believe will not only drive significant value for stockholders, but has the potential to transform the Indian and global electric vehicle markets. We believe SRIVARU's state-of-the-art technologies, low-cost manufacturing, expanding distribution channels and attractive price points for consumers are poised to disrupt the motorcycle market in both India and around the world. India alone is one of the world's largest and fastest-growing markets for two-wheeled vehicles, with estimated revenues of US$25.6 billion and expected to grow to US$36.1 billion by 2027. India has a large, young and growing urban customer base experiencing rising standards of living. As a result, we believe SRIVARU is positioned to capture a significant share of the market given its technological leadership and first-mover advantage and, most importantly, the resounding favorable public reviews to date. We are honored to support SRIVARU on this exciting journey."

Mohanraj Ramasamy, CEO of SRIVARU, stated, "We appreciate the support of Mobiv's board of directors and stockholders as we embark on the next phase of our evolution as a public company. The platform provided through this combination is expected to significantly accelerate our growth. With over five years of research and development, our goal is to revolutionize the e-mobility industry. The Prana Grand is already one of India's leading premium electric motorcycles, featuring state-of-the-art technology and patented innovations. Our proprietary integrated charging solution allows home charging, which we intend to expand by collaborating with local utilities. With the expected upcoming launch of our next-generation Prana Elite, we plan to expand the Prana's range from 126 kilometers (78 miles) to 225 kilometers (140 miles), along with other significant enhancements. We also offer a favorable total cost of ownership value proposition relative to internal combustion motorcycles and other E2W manufacturers. We also offer our customers attractive financing programs through banks and Non-Banking Financial Companies (NBFC). As a result, feedback from the market has been overwhelmingly positive, as illustrated by the fact we have received many inquiries from potential customers and have received over 700 dealership applications to date. Overall, we believe we have built a lean, high margin and highly scalable business model that has the potential to drive significant value for shareholders for years to come, while contributing to reduced carbon emissions worldwide."

The combined company will be known as SRIVARU Holding Ltd. and will be led by SRIVARU's current management team. The transaction is anticipated to generate gross proceeds of up to approximately US$104 million of cash, assuming no redemptions by Mobiv's public stockholders, which will be used to fund operations and growth. The pro forma implied enterprise value of the combined company is approximately US$195 million. Including the vehicle sales revenue-based earn-out for SRIVARU shareholders of 25 million

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shares, the implied total consideration to SRIVARU shareholders will be approximately US$409 million, assuming US$10 per share. The earnout for vehicle sales is based on SRIVARU achieving sales revenue for vehicles and such other products as approved by the board of SRIVARU of US$39 million for the fiscal year ending March 31, 2024, US$117 million for the fiscal year ending March 31, 2025, and US$553 million for the fiscal year ending March 31, 2026. The SRIVARU Board will have discretion to release the Earnout Shares to the SRIVARU shareholders even where the applicable Vehicle Sales Revenue triggers are not achieved, if Vehicle Sales Revenue surpasses at least 50% of such triggers. Mobiv's net cash proceeds, which exclude any potential common stock redemptions, will be used to fund SRIVARU's strategic plan to accelerate its go-to-market strategy, invest in new product development, and enhance its global manufacturing and distribution capabilities. The transaction has been approved by the boards of directors of both SRIVARU and Mobiv, and is expected to close in the first half of 2023, subject to the approval of Mobiv stockholders, regulatory approvals, and other customary closing conditions.

Following the transaction, SRIVARU's Board of Directors will include a majority of independent directors in addition to representation from SRIVARU and Mobiv. Additional information about the proposed transaction, including a copy of the Business Combination Agreement and the investor presentation, will be provided in a Current Report on Form 8-K to be filed by Mobiv with the SEC and available at <u>www.sec.gov</u>.

<sup>+</sup>*Not including employee stock options, if any.*

**Advisers** 

ACP Capital Markets LLC is serving as financial adviser to SRIVARU and Norton Rose Fulbright US LLP is serving as US legal counsel to SRIVARU. SRI Solutions is providing Indian legal advice to SRIVARU. EF Hutton, a division of Benchmark Investments, LLC is serving as capital markets adviser to Mobiv and Winston & Strawn LLP is serving as US legal counsel to Mobiv. JSA Advocates & Solicitors is serving as Indian legal counsel to Mobiv.

**Additional Information about the Transactions and Where to Find It.** 

In connection with the proposed business combination between SRIVARU and Mobiv (the "Business Combination") SRIVARU intends to file a registration statement on Form F-4 (as may be amended from time to time, the "Registration Statement") that includes a preliminary proxy statement of Mobiv and a registration statement/preliminary prospectus of SRIVARU, and after the Registration Statement is declared effective, Mobiv will mail a definitive proxy statement/prospectus relating to the Business Combination to Mobiv's stockholders. The Registration Statement, including the proxy statement/prospectus contained therein, when declared effective by the Securities and Exchange Commission ("SEC"), will contain important information about the Business Combination and the other matters to be voted upon at a meeting of Mobiv's stockholders to be held to approve the Business Combination and related matters. This communication does not contain all the information that should be considered concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. SRIVARU and Mobiv may also file other documents with the SEC regarding the Business Combination. Mobiv stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, as these materials will contain important information about Mobiv, SRIVARU and the Business Combination.

When available, the definitive proxy statement/prospectus and other relevant materials for the Business Combination will be mailed to Mobiv stockholders as of a record date to be established for voting on the Business Combination. Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed or that will be filed with the SEC by Mobiv through the website maintained by the SEC at <u>www.sec.gov</u>, or by directing a request to the contacts mentioned below.

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**Participants in the Solicitation** 

Mobiv, SRIVARU and their respective directors and officers may be deemed participants in the solicitation of proxies of Mobiv stockholders in connection with the Business Combination. Mobiv stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Mobiv and a description of their interests in Mobiv is contained in Mobiv's final prospectus related to its initial public offering, dated August 3, 2022, and in Mobiv's subsequent filings with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Mobiv stockholders in connection with the Business Combination and other matters to be voted upon at the Mobiv stockholder meeting will be set forth in the Registration Statement for the Business Combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the Business Combination will be included in the Registration Statement that Mobiv and SRIVARU intend to file with the SEC. You may obtain free copies of these documents as described in the preceding paragraph.

**Forward Looking Statements** 

This communication may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning Mobiv's or SRIVARU's possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the Business Combination will generate returns for stockholders or shareholders, respectively. These forward-looking statements are based on Mobiv's or SRIVARU's management's current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU's or Mobiv's management's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the Business Combination; (b) the outcome of any legal proceedings that may be instituted against Mobiv, SRIVARU or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (c) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of Mobiv, to obtain financing to complete the Business Combination or to satisfy other conditions to closing; (d) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (e) the ability to meet the applicable stock exchange listing standards following the consummation of the Business Combination; (f) the inability to complete the private placement or backstop transactions contemplated by the Business Combination Agreement and related agreements, as applicable; (g) the risk that the Business Combination disrupts current plans and operations of SRIVARU or its subsidiaries as a result of the announcement and consummation of the transactions described herein; (h) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (i) costs related to the Business Combination; (j) changes in applicable laws or regulations, including legal or regulatory developments (including, without limitation, accounting considerations) which could result in the need for Mobiv to restate its historical financial statements and cause unforeseen delays in the timing of the Business Combination and negatively impact the trading price of Mobiv's securities and the attractiveness of the Business Combination to investors; (k) the possibility that SRIVARU and Mobiv may be adversely affected by other economic, business, and/or competitive factors; (l) SRIVARU's ability to execute its business plans and strategies, (m) SRIVARU's estimates of expenses and profitability and (n) other risks and uncertainties indicated from time to time in the final prospectus of Mobiv, including those under "Risk Factors" therein, and other documents filed or to be filed with the SEC by Mobiv. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

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Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU and Mobiv assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither SRIVARU nor Mobiv gives any assurance that either SRIVARU or Mobiv will achieve its expectations.

**Disclaimer** 

This communication relates to a proposed business combination between SRIVARU and Mobiv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

**About SRIVARU Holding Ltd.** 

SRIVARU is the parent company of SRIVARU Motor Private Ltd., a leading 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 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 competitors. Additional information about the company is available at: <u>http://www.srivarumotors.com/</u>.

**About Mobiv** 

Mobiv is a newly incorporated company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with a target business. Mobiv may pursue a business combination target in any industry or geographic region and will invest using the lens of the UN Sustainable Development Goals, which reflect social and environmental mega-trends that are re-shaping our world. <u>https://mobiv.ac/</u>.

**Investor & Media Contact** 

Crescendo Communications, LLC

Tel: (212) 671-1020

Email: MOBV@Crescendo-IR.com