SAN JOSE, CA / ACCESS Newswire / September 12, 2025 / Peraso Inc. (NASDAQ: PRSO) ("Peraso" or the "Company"), a pioneer in mmWave wireless technology solutions, today issued an update in connection with its ongoing strategic review process.

As previously disclosed, the Company held a limited exploratory call with Mobix Labs, Inc. ("Mobix Labs") on September 10, 2025. The call was conducted on a non-confidential basis and Peraso did not share any material non-public information. Similarly, Mobix Labs was advised that any information it chose to provide would not be treated as confidential and may be disclosed by Peraso, if necessary or advisable. The purpose of the call was to allow Peraso to better understand Mobix Labs' revised unsolicited proposal dated September 4, 2025 and subsequent correspondence.

Following the call, Mobix Labs issued a public statement describing the discussion. To ensure clarity for all stakeholders, the Company notes that it did not respond to Mobix Labs' proposal or agree to continue discussions during the call. The Company has since sent a letter to Mobix Labs to clarify its position. Following the call, the Board of Directors of the Company unanimously decided that any engagement with Mobix Labs, if pursued by the Company, will occur in accordance with the Company's established process. While Mobix Labs has not agreed to participate under the Company's standard confidentiality agreement, which includes customary standstill protections that help ensure orderly engagement and prevent coercive tactics during evaluation, the Company's invitation for Mobix Labs to join the process on those terms remains open.

Peraso continues to evaluate all credible proposals with the assistance of its financial and legal advisors. Multiple parties, which have executed mutual confidentiality agreements with customary standstill provisions, are actively participating in the Company's strategic review.

The Company remains committed to acting in the best interests of all stockholders and conducting its process in a manner that is fair, disciplined, and consistent with its fiduciary duties.

About Peraso Inc.

Peraso Inc. (NASDAQ: PRSO) is a pioneer in high-performance 60 GHz unlicensed and 5G mmWave wireless technology, offering chipsets, modules, software, and IP. Peraso supports a variety of applications, including fixed wireless access, military, immersive video, and factory automation. For additional information, please visit www.perasoinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward-looking statements." These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "strategy," "goal," or "planned," "seeks," "may," "might", "will," "expects," "intends," "believes," "could," "should," and similar expressions, or the negative versions thereof, and which also may be identified by their context. There can be no assurance that the Company will secure any strategic transaction or enter into negotiations with respect thereto.

Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to: risks related to the Company's efforts to secure a strategic transaction, or obtain financing or pursue capital arrangements to support operations; risks associated with delays or deferrals of expenditures in order to conserve cash; risks related to the Company's business as a result of the time necessary to review and explore strategic proposals, including the potential loss of customers, loss of revenue and other negative impacts from the time management must devote to these discussions; risks related to the loss of personnel; general acquisition-related risks, including costs and cash expenditures associated with exploring and executing a potential transaction; the Company's continued compliance with the continued listing requirements and standards of the Nasdaq Stock Market; timing, receipt and fulfillment of customer orders associated with the Company's mmWave products and solutions; anticipated use of mmWave by customers and intended users of the Company's products; the availability and performance of Peraso's products and solutions; the successful integration of Peraso's products and technology with customer and third-party semiconductor, antenna and system solutions; reliance on manufacturing partners to assist successfully with the fabrication of the Company's ICs and antenna modules; availability of quantities of ICs supplied by manufacturing partners at a competitive cost; level of intellectual property protection provided by the Company's patents; vigor and growth of markets served by the Company's customers and its operations; and other risks included in the Company's SEC filings. Peraso undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.

Peraso and the Peraso logo are registered trademarks of Peraso Inc. in the U.S. and/or other countries.

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Company Contact:

Jim Sullivan, CFO
Peraso Inc.
P: 408-418-7500
E: jsullivan@perasoinc.com

SOURCE: Peraso Inc.