<SEC-DOCUMENT>0001104659-23-116478.txt : 20240108
<SEC-HEADER>0001104659-23-116478.hdr.sgml : 20240108
<ACCEPTANCE-DATETIME>20231113060236
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-23-116478
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chavant Capital Acquisition Corp.
		CENTRAL INDEX KEY:			0001855467
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				981591717
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		445 PARK AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-745-1086

	MAIL ADDRESS:	
		STREET 1:		445 PARK AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;November&nbsp;13, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549-3561</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 72px; font-size: 10pt">Attention:</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Beverly Singleton</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Jean Yu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Jenny O&rsquo;Shanick</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Asia Timmons-Pierce</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><B>Re:</B></TD>
    <TD STYLE="font-size: 10pt"><B>Chavant Capital Acquisition Corp. </B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Amendment No.&nbsp;2 to<BR>
Registration Statement on Form&nbsp;S-4<BR>
Filed on November&nbsp;3, 2023<BR>
File No.&nbsp;333-271197</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On behalf of our client, Chavant Capital Acquisition
Corp., a Cayman Islands company (the &ldquo;<B>Company</B>&rdquo;), set forth below are the Company&rsquo;s responses to the comments
of the staff of the Securities and Exchange Commission (the &ldquo;<B>Staff</B>&rdquo;) communicated to the Company in the Staff&rsquo;s
letter, dated November&nbsp;9, 2023. In connection with such responses, the Company will submit, electronically via EDGAR, Amendment No.&nbsp;3
(&ldquo;<B>Amendment No.&nbsp;3</B>&rdquo;) to the Registration Statement on Form&nbsp;S-4 of the Company (File No.&nbsp;333-271197) (the
 &ldquo;<B>Registration Statement</B>&rdquo;). The Registration Statement, as amended by the first amendment to the Registration Statement,
filed on August&nbsp;11, 2023 (&ldquo;<B>Amendment No.&nbsp;1</B>&rdquo;), the second amendment to the Registration Statement, filed on
November&nbsp;3, 2023 (&ldquo;<B>Amendment No.&nbsp;2</B>&rdquo;), and Amendment No.&nbsp;3, is referred to as the &ldquo;<B>Amended Registration
Statement</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For ease of reference, each of the Staff&rsquo;s
comments is reproduced below in bold and is followed by the Company&rsquo;s response. In addition, unless otherwise indicated, all references
to page&nbsp;numbers in such responses are to page&nbsp;numbers in the Amended Registration Statement. Capitalized terms used in this
letter but not otherwise defined herein have the respective meanings ascribed to them in the Amended Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Amendment No.&nbsp;2 to Registration Statement on Form&nbsp;S-4</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Questions and Answers About the Special Meeting and the Related
Proposals</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>How much dilution may non-redeeming Chavant shareholders experience
in connection with the Transaction..., page&nbsp;21</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">1.</TD>
    <TD STYLE="font-size: 10pt"><B>Refer to the tables on pages&nbsp;22 and 23 and related footnotes. In footnote (6b), please clarify that the implied total equity value of New Mobix Labs is $280.5 million, or approximately $289.2 million. Your current disclosure states $270.9 million and $279.6 million, respectively. In footnote (19), please clarify that the total additional shares in the No Redemption scenario is 23,525,875 shares and the total in the Maximum Redemption scenario is 23,502,508 shares, as shown in the table on page&nbsp;23. Your current disclosure states 23,198,066 shares and 23,174,699 shares, respectively.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response</U>: The Company has revised footnote (6b) on
page&nbsp;23 to conform the implied total equity value amounts to the amounts in the corresponding line item in the table on page&nbsp;22.
The Company has also revised footnote (19) on page&nbsp;25 to conform the total additional dilution share numbers to the numbers in
the corresponding line item in the table on page&nbsp;23.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Risk Factors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Nasdaq may delist our securities from trading on its exchange...,
page&nbsp;105</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">2.</TD>
    <TD STYLE="font-size: 10pt"><B>We note that you removed disclosure relating to how your redemptions in connection with the Third Extension and removal of the Redemption Limitation from your governing documents may make it more difficult to regain compliance with the MVLS Rule&nbsp;and the other Nasdaq listing rules. Please revise to discuss these risks.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response</U>: The Company has revised the disclosure on
page&nbsp;105 of the Amended Registration Statement to state that, in light of redemptions in connection with the Company&rsquo;s Third
Extension and removal of the Redemption Limitation from its Amended and Restated Memorandum and Articles of Association, it may be more
difficult to regain compliance with the Rules&nbsp;and the other Nasdaq listing rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Unaudited Pro Forma Condensed Combined Financial Information</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>The Transaction, page&nbsp;118</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 48px; font-size: 10pt">3.</TD>
    <TD STYLE="font-size: 10pt"><B>Refer to the bullet point for Assuming Maximum Redemption at the bottom of page&nbsp;120. The first sentence appears to be an incomplete sentence and has been truncated from previous disclosure as additional sentences have been omitted from this amendment that were previously included in the prior amendment. Further, it appears footnotes 3 and 4 should be numbered as 1 and 2, respectively. Please revise or advise.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response</U>: The Company has revised the bullet point
for Assuming Maximum Redemption, including related footnotes, at the bottom of page&nbsp;120 to include the language that was inadvertently
omitted from Amendment No.&nbsp;2 and to fix the numbering of footnotes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Management's Discussion and Analysis of Financial Condition
and Results of Operations of Mobix Labs</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Recent Developments, page&nbsp;257</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">4.</TD>
    <TD STYLE="font-size: 10pt"><B>We note disclosure that in August&nbsp;2023, Mobix Labs entered into two non-binding term sheets to acquire entities which operate in a strategically aligned industry. The term sheet with one company will expire on December&nbsp;4, 2023, but is subject to an automatic 15 day extension and the term sheet with the second company expired on August&nbsp;31, 2023, however, the parties are in negotiation to extend the expiration date. Tell us the consideration given to providing the financial information required by Rule&nbsp;8-04 and Rule&nbsp;8-05 of Regulation S-X for each entity, to the extent they are considered to be probable or pending business acquisitions. Also, provide disclosure in the introductory section to the Unaudited Pro Forma Financial Statements of this recent development and the expected material effect, if any, the acquisitions would have on the pro forma financial statements.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response</U>: The Company respectfully advises the Staff
that the transactions contemplated by the two non-binding term sheets are not probable, as Mobix Labs has advised the Company that it
is in the early stages of conducting initial diligence on both companies and has not negotiated any terms for consideration of the acquisition
of either company. The Company has revised the introductory section to the Unaudited Pro Forma Financial Statements on page&nbsp;118
to provide disclosure that the pro forma financial statements do not take into account the two non-binding term sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Part&nbsp;II</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Information Not Required in Prospectus</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 21. Exhibits and Financial Statement Schedules</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Exhibit&nbsp;5.1 - Form&nbsp;of Opinion of Simpson Thacher&nbsp;&amp;
Bartlett LLP as to the validity of the securities registered, page&nbsp;II-2</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">5.</TD>
    <TD STYLE="font-size: 10pt"><B>We note that your cover page&nbsp;and Exhibit&nbsp;5.1 state that you are registering 23,960,315 shares of Class&nbsp;A Common Stock. However, this appears inconsistent with Exhibit&nbsp;107, which provides that 27,005,275 shares of Class&nbsp;A Common Stock are being registered and this number includes the shares underlying your Public Warrants. Please revise to address this apparent inconsistency.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response</U>: The Company has revised the disclosure on
the cover page&nbsp;of the Amended Registration Statement to state that the Company is registering 27,005,275 shares of Class&nbsp;A Common
Stock. In addition, Exhibit&nbsp;5.1 has been revised to state that it relates to the registration of 27,005,275 shares of Class&nbsp;A
Common Stock, and it has been further revised to include an opinion, subject to the qualifications, assumptions and limitations stated
herein, on the validity of the applicable shares of Class&nbsp;A Common Stock underlying the Public Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;*&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you have any questions or comments concerning
this submission or require any additional information, please do not hesitate to contact John C. Ericson,&nbsp;Esq. at (212) 455-3520.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Simpson Thacher&nbsp;&amp; Bartlett LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 47%; border-bottom: black 1pt solid">/s/ John C. Ericson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>John C. Ericson,&nbsp;Esq.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">cc:</TD>
    <TD>Jiong Ma, Chief Executive Officer</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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