Mobix Labs, Inc. (Nasdaq: MOBX) has signed a definitive agreement to acquire Special Project Delivery, Inc. (SPD), a pre-revenue infrastructure platform focused on U.S. supply chains for rare earth elements, critical minerals, and energy storage, according to a press release.

The all-stock transaction is structured with consideration not to exceed 4.8 million shares of Mobix common stock. The deal is expected to close before the end of 2026, subject to Mobix stockholder approval and other customary closing conditions.

SPD, founded in 2019 and headquartered in Newport Beach, California, holds positions across critical minerals and rare earth elements, energy and critical infrastructure, and Western U.S. water resilience. The company is led by Co-Founder and CEO Paul Singarella, a former Latham & Watkins partner, and Co-Founder and CFO John Dewey.

The acquisition is part of Mobix's previously announced National Security Matters (NSM) Initiative, which expanded the company's focus to include defense and aerospace electronics, domestic drone and autonomous systems, rare earth elements, and energy infrastructure.

"The SPD agreement is a transformational step in our vision to pursue a much larger and strategically important set of interrelated opportunities that are core to domestic national security," said Philip Sansone, CEO of Mobix Labs.

SPD's opportunity pipeline includes critical minerals and rare earth elements, energy and critical infrastructure, Western U.S. water resilience, and carbon and biosolids projects. The combined entity would also seek opportunities in missile-defense and homeland-defense architecture, domestic drone production, and federal critical minerals programs.

"Combining with Mobix unites our platform with a publicly traded defense and dual-use technology company already operating inside the defense and aerospace ecosystems our materials are built to supply," said Paul Singarella, Co-Founder and CEO of SPD.

Mobix hosted an investor call to discuss the NSM Initiative and the proposed acquisition on the day of the announcement.