This acquisition would enable Mobix Labs to integrate with strategic US supply chains that support defense, national security and AI infrastructure
IRVINE, Californie, May 14, 2026–(BUSINESS WIRE)–Mobix Labs, Inc. (Nasdaq: MOBX) today announced that it has signed a non-binding letter of intent to acquire Special Project Delivery LLC (“SPD”), a strategic infrastructure platform that establishes U.S. sovereign supply chains for land rare, critical minerals and energy storage.
The proposed acquisition would allow Mobix Labs, already a supplier of cutting-edge defense and aerospace systems to the United States and its allies, to expand directly into one of the world’s most strategically important industrial sectors.
Key points in brief
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It is estimated that each F-35 Lightning II contains approximately 418 kilograms rare earth materials.
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It is estimated that each Virginia-class nuclear submarine contains approximately 4,500 kilograms rare earth materials.
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Tens of billions of dollars are already invested globally in strategic infrastructure linked to critical minerals, a figure which could reach hundreds of billions over the next decade.
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China dominates a significant share of global rare earth mining and refining, according to widely cited industry and government sources.
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NATO, AUKUS and the Five Eyes countries have publicly identified rare earth independence as a defining geopolitical priority for the coming decade.
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From 2027new restrictions from the US Department of Defense on certain rare earth magnetic materials of Chinese origin should accelerate demand from allied countries.
Why this moment is crucial
“In my decades at the helm of Microsemi, I have seen our defense and aerospace customers become increasingly dependent on a narrow set of strategic materials that they could not always securely source “, declares James Peterson Chairman of the Board of Directors of Mobix Labs and former CEO of Microsemi. “Today, rare earths and critical minerals have become one of the key competitive battlegrounds of the next decade. SPD is the ideal platform at the ideal time: aligned with federal priorities, technically validated and implemented by an exceptional team. We believe the combination with SPD provides Mobix Labs and its shareholders with a substantial long-term opportunity. HAS”
A platform designed to support the American effort in critical minerals
Founded in 2019, SPD has built a dedicated U.S. critical minerals and energy platform aligned with key federal initiatives that are redefining the Western industrial base, including Project Vault, the recently launched $12 billion public-private partnership. announced by the Export-Import Bank of the United States for Critical Resource Resilience, the Defense Production Act and the DOE Office of Loan Programs.
SPD’s activities include the recovery of rare earth elements from underutilized domestic raw materials, including legacy coal ash from the United States, using extraction technologies validated by research partners in the field of American defense. SPD has officially aligned itself with the US Departments of Energy and Defense, Lawrence Berkeley National Laboratory, two of the largest players in the US utility sector and three institutional financial partners.
SPD is led by co-founder and CEO Paul Singarella, a former MIT-educated partner at Latham & Watkins, and co-founder and CFO John Dewey, who has more than $2 billion in infrastructure development responsibilities.
No F-35. No submarine. No missiles. 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 seen as the fuel of modern defense, aerospace, AI and cutting-edge industrial economics, and the platforms that depend on them already incorporate Mobix Labs technologies today.
A supply chain led by the United States and supported by Washington and our allies
From the United States and the United Kingdom to Australia, Canada, Japan, South Korea and India, allied nations are in a mad race to establish independent, non-Chinese supply chains for strategic materials. The proposed merger between Mobix and SPD would be a direct part of this transformation.
“SPD was created to internalize the materials, technologies and infrastructure that define national sovereignty in the 21st century: rare earths, critical minerals and energy systems that power the AI industrial revolution,” declares Paul Singarella co-founder and CEO of SPD. “A merger with Mobix Labs would directly combine our platform with a publicly traded company specializing in defense and dual-use technologies, which already operates within the defense and aerospace ecosystems that our materials are intended to supply. HAS”
Mobix Labs intends to contribute to building the sovereign industrial infrastructure that will power this future.
Transaction status
The letter of intent with SPD is non-binding and establishes a framework for due diligence and the negotiation of definitive agreements. There can be no assurance that a definitive agreement will be reached 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, providing advanced components and wireless technologies to the aerospace, defense, and security industries. indoor and other applications requiring high reliability.
À propos de Special Project Delivery LLC
Special Project Delivery LLC (“SPD”) is a privately-owned U.S. infrastructure development platform operating in the critical minerals, energy storage and water infrastructure sectors in the Western United States. SPD was established 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, 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, without limitation, statements regarding: the proposed acquisition of Special Project Delivery LLC (“SPD”); the expected benefits, strategic importance, scope, structure and timing of the proposed acquisition; the negotiation, signing and conclusion of final agreements; SPD’s project portfolio, capital architecture, alignment with federal programs, validation of its technologies, leadership and key operational milestones; SPD’s positions in critical minerals, energy storage and water infrastructure in the western United States; the size, growth and trajectory of the global rare earth and critical minerals market; the expected impact of U.S. Department of Defense procurement restrictions, Project Vault, the Defense Production Act, the DOE Office of Loan Programs and other federal industrial policy initiatives; geopolitical, regulatory and commercial developments; estimates of consumption of rare earths and critical minerals by defense platform; the industrial and supply priorities of allied nations; and Mobix Labs’ overall business strategy, growth, prospects and forecasts in the defense, aerospace, critical minerals and related 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 may cause actual results to differ materially from those expressed or implied. These factors include, but are not limited to: the ability of the parties to negotiate and conclude definitive agreements within the envisaged timeframes, or even to conclude them at all; compliance with usual closing conditions; the results and conclusions of the due diligence; the ability to complete the proposed transaction according to the planned conditions, or even to complete it at all; the ability to realize the strategic, commercial or financial benefits expected from the proposed transaction; the ability to integrate any acquired activities and retain key personnel; SPD’s ability to advance its project portfolio, obtain participation in federal programs and achieve key 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 raw materials from legacy coal ash; geopolitical, regulatory, commercial, export control and tariff developments, including Chinese export policies and US restrictions on defense procurement; capital market conditions and availability of financing; competition; the ability of the merged entity to participate in federal industrial policy programs; macroeconomic conditions; and other risks described in Mobix Labs’ filings with the United States 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 not binding, and there can be no assurance that the parties will enter into 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 consumption of rare earths and critical minerals by defense platform reflect publicly available industry and government sources and are subject to variation. 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 statements.
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Contacts
MOBX Investor Relations Contacts
Chris Eddy ou David Collins
Catalyst IR
mobx@catalyst-ir.com or 212-924-9800
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