Movano raises ~$24.2M in private placement of units with warrants

Corvex, Inc.

Raised ~$24.2M gross via 45.3M units at $0.533/unit (directors/officers at $0.565/unit).
Each unit includes one share (or pre-funded warrant) plus one warrant exercisable at $0.4071 for 5 years.
Up to ~$18.4M additional gross proceeds if all warrants exercised for cash.
Net proceeds to fund working capital and general corporate purposes; closing expected April 4, 2024.
Directors and officers purchased 331,856 units at $0.565/unit.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Corvex, Inc. entered into Registration Rights Agreement with the Purchasers (effective 2024-04-01).

Action: entry
Counterparty: the Purchasers
Effective: 2024-04-01

Exact text from the filing

Pursuant to a registration rights agreement entered into with the Purchasers on April 1, 2024 (the “Registration Rights Agreement”), the Company agreed to file a registration statement

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Corvex, Inc. entered into Purchase Agreement with the Purchasers valued at approximately $24.2 million (effective 2024-04-02).

Action: entry
Agreement: equity purchase
Counterparty: the Purchasers
Value: approximately $24.2 million
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024, Movano Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers named therein (the “Purchasers”), for the private placement (the “Private Placement”) of an aggregate of 45,298,517 units

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284 material agreements filed in the last 30 days. Browse all material agreements →

Corvex, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-029886

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