Movano Health Announces Proposed Public Offering
Summary
PLEASANTON, Calif., Jan. 26, 2023 /PRNewswire/ -- (Nasdaq: MOVE), a purpose-driven healthcare solutions company at the intersection of medical and consumer devices and makers of the Evie Ring, today announced that it is proposing to sell shares of its common stock and warrants to purchase common stock in an underwritten public offering. The Company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of shares of common stock and/or warrants to purchase shares of common stock sold in the offering at the public offering price, less the underwriting discount. The final terms of the proposed offering will depend on market and other conditions, and there can be no assurance as to whether the offering may be completed, or as to the actual size and terms of the offering.The Company intends to use the net proceeds from the offering for general corporate purposes, which may include funding product development and commercialization activities.Newbridge Securities Corporation is acting as sole book-running manager for the offering.The common stock and warrants to purchase common stock described above are being offered by Movano pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectus supplement, and accompanying base prospectus relating to this offering, may be obtained from Newbridge Securities Corporation, Attn: Equity Syndicate Department, 1200 North Federal Highway, Suite 400, Boca Raton, FL 33432, email: [email protected], telephone: (877) 447-9625.Founded in 2018, Movano Inc. (NASDAQ:MOVE) dba Movano Health is developing a suite of purpose-driven healthcare solutions to bring medical-grade, high-quality data to the forefront of consumer health devices. Featuring modern form factors, Movano Healths devices capture a comprehensive picture of a persons vital health information and uniquely translate the data into personalized and intelligent insights that empower consumers to live healthier and more balanced lives.