Mobilewalla and SPACSphere Acquisition Corp. Announce Filing of Registration Statement on Form S-4 Regarding Proposed Business Combination

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ATLANTA & GRAND CAYMAN, Cayman Islands — Mobilewalla Holdco, Inc. (“Mobilewalla” or the “Company”), a leading provider of consumer data and vertical agentic AI solutions, and SPACSphere Acquisition Corp. (NASDAQ: SSAC) (“SPACSphere” or “SSAC”), a publicly traded special purpose acquisition company, today announced the public filing of a registration statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”), containing a preliminary proxy statement and prospectus relating to their previously announced proposed business combination. A copy of the Registration Statement can be found at both the Securities and Exchange website at www.sec.gov and Mobilewalla’s website at www.mobilewalla.com/investorrelations.

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The submission of the Registration Statement marks an important milestone toward the completion of the proposed business combination, which is expected to result in Mobilewalla becoming a publicly traded company. Upon closing of the transaction, the combined company is expected to operate under the name Covariate, Inc. and its shares are expected to trade on the Nasdaq Stock Market LLC, (“Nasdaq) or another U.S. national exchange.

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“The submission of our S-4 marks a notable milestone in bringing our vertical agentic AI solutions to the public markets,” said Dr. Anindya Datta, Founder and Chief Executive Officer of Mobilewalla. “Over the last decade, we have built a proprietary, exabyte-scale consumer data platform designed to power domain-specific AI models and solve critical operational challenges for enterprises. Taking this next step with SPACSphere brings us closer to securing the public platform required to expand our AI solutions globally.”

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The proposed business combination remains subject to approval by SPACSphere and Mobilewalla shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. The transaction is expected to close in the second half of 2026.

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About Mobilewalla

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Mobilewalla is a consumer data and artificial intelligence (“AI”) company with a proprietary data platform built on over a decade of longitudinal behavioral signals spanning 2 billion devices across 40+ countries. The company’s purpose-built technology stack ingests 50 terabytes of data daily and transforms it into predictive intelligence products and vertical agentic AI solutions for the telecommunications, financial services, and consumer data industries. Mobilewalla serves enterprise clients in North America, Europe and Asia empowering these businesses to gain a granular understanding of consumer behavior, better understand customer needs and preferences and make strategic decisions based on a deep understanding of market trends and influences through Mobilewalla’s cutting-edge data and resulting insights.

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About SPACSphere

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SPACSphere is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination.

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Additional Information About the Proposed Business Combination and Where to Find It

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In connection with the proposed business combination, the Registration Statement has been publicly filed by SPACSphere and Mobilewalla with the SEC, which includes a preliminary proxy statement of SPACSphere and a preliminary prospectus of the Company. After the Registration Statement is declared effective by the SEC, SPACSphere will mail the definitive proxy statement/prospectus relating to the proposed business combination to its shareholders as of a record date to be established for voting on the transaction. The Registration Statement contains important information about the proposed business combination and the other matters to be voted upon at the special meeting of shareholders. Shareholders and other interested persons are advised to read the preliminary proxy statement/ prospectus in the Registration Statement and any amendments thereto, and the definitive proxy statement/prospectus, as these materials will contain important information about Mobilewalla, SPACSphere, and the transaction. Copies of the Registration Statement can be obtained free of charge at the SEC’s website located at www.sec.gov.

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Forward-Looking Statements

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This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included herein, regarding the proposed business combination, SSAC’s and the Company’s ability to consummate the transaction, the benefits of the transaction, SSAC’s and the Company’s future financial performance following the transaction, as well as SSAC’s and the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.

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These forward-looking statements are based on SSAC’s and the Company’s management teams’ current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. SSAC and the Company caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of SSAC and the Company. These risks include, but are not limited to, (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of SSAC securities; (ii) the risk that the proposed business combination may not be completed by SSAC’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SSAC; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by SSAC’s shareholders and the Company’s stockholders, and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on the Company’s business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of the Company and potential difficulties in the Company’s employee retention as a result of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted against SSAC or the Company related to the agreement and the proposed business combination; (vii) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination (viii) the ability to maintain the listing of SSAC’s securities on the Nasdaq or another U.S. national exchange; (ix) the price of SSAC’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which the Company plans to operate, variations in performance across competitors, changes in laws and regulations affecting the Company’s business and changes in the combined capital structure; (x) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; (xi) the impact of the hostilities between the U.S. and Iran and other geopolitical conflicts, and (xii) other risks and uncertainties related to the transaction set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in SSAC’s prospectus relating to its initial public offering (File No. 333-290414) declared effective by the SEC on January 30, 2026, and other documents filed, or to be filed with the SEC by SSAC, including SSAC’s Annual Report on Form 10-K filed with the SEC on March 27, 2026, and any subsequently filed Quarterly Report on Form 10-Q. SSAC’s SEC filings are available publicly on the SEC’s website at http://www.sec.gov.