Movano Health prices $3.6M public offering of 4.2M shares at $0.85/share

Corvex, Inc.

Offering of 4,235,304 shares of common stock at $0.85 per share, gross proceeds of $3.6M.
Underwriter granted 30-day option to purchase up to 635,296 additional shares (15% of offering).
Net proceeds to be used for general corporate purposes, including product development and commercialization.
Closing expected on or about November 17, 2023, subject to customary conditions.
The Benchmark Company, LLC acted as sole book-running manager for the offering.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Corvex, Inc. entered into Underwriting Agreement with The Benchmark Company, LLC valued at gross proceeds of $3.6 million for the sale of 4,235,304 shares of common stock (effective 2023-11-14).

Action: entry
Agreement: underwriting
Counterparty: The Benchmark Company, LLC
Value: gross proceeds of $3.6 million for the sale of 4,235,304 shares of common stock
Effective: 2023-11-14

Exact text from the filing

On November 14, 2023, Movano Inc. (the “Company”) entered into an Underwriting Agreement (the “Agreement”) with The Benchmark Company, LLC (the “Underwriter”) relating to an underwritten offering (the “Offering”) of 4,235,304 shares (“Shares”) of common stock (“Common Stock”).

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Corvex, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-087246

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