MOVE · Movano Inc.

Summary

Movano Inc. (Nasdaq: MOVE) is a technology company developing a healthcare platform to deliver medical-grade data through consumer health devices, such as the Evie Ring. The company is currently pursuing a strategic merger with Corvex, Inc., an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads. This S-1/A filing registers the resale of 545,456 shares of Common Stock issuable upon conversion of Series A Preferred Stock held by Selling Stockholders, who provided $3.0 million in bridge financing. Movano will not receive any proceeds from this resale offering. The merger is structured as a reverse recapitalization where Corvex will be the accounting acquirer, with Corvex securityholders expected to own approximately 94.9% of the combined company. Corvex generated $4.9 million in revenue for the nine months ended September 30, 2025, while Movano reported a net loss of $12.4 million for the same period. The combined entity aims to capitalize on the growing demand for AI infrastructure.

Key takeaways

• Movano is registering 545,456 shares of Common Stock for resale by Selling Stockholders, issuable upon conversion of Series A Preferred Stock sold for $3.0 million on November 6, 2025.
• The company is pursuing a merger with Corvex, Inc., an AI cloud computing company founded in October 2024, which generated $4.9 million in revenue for the nine months ended September 30, 2025.
• The merger is expected to close in the first quarter of 2026, with Corvex securityholders owning approximately 94.9% of the combined company on a fully diluted basis.
• Movano reported a net loss of $12.4 million for the nine months ended September 30, 2025, and had 1,141,930 shares of Common Stock outstanding as of February 4, 2026.
• The filing discloses material weaknesses in internal control over financial reporting for both Movano and Corvex, specifically regarding control environment and segregation of duties.
• Corvex has secured a committed equity facility (ChEF) with Chardan Capital Markets LLC for up to $1.0 billion in aggregate gross purchase price of newly issued shares.
• The combined company will be renamed Corvex, Inc. following the merger and will focus on AI cloud computing infrastructure.