Peraso Inc., a pioneer in mmWave wireless technology solutions, has provided an update on its ongoing review of strategic alternatives, including an unsolicited non-binding proposal from Mobix Labs, Inc. The company's board of directors had previously authorized an exploration of options aimed at maximizing stockholder value and enhancing business operations. Peraso has engaged Craig-Hallum Capital Group LLC as its financial advisor for this process. The company emphasized the importance of a fair and consistent process for all interested parties, with appropriate confidentiality measures in place. While Mobix had declined to enter into a confidentiality agreement as part of this process, Peraso remains open to engaging with Mobix and other parties under the condition of safeguarding confidential information. The company has not provided any assurance regarding the outcome or timing of the strategic review process.