Corporate ActionJul 10, 2026, 05:16 PM
Corvex Files S-1 for Resale of 53.39M Shares; Details Merger & Split
AI Summary
Corvex, Inc. (formerly Movano Inc.) filed an S-1 registration statement for the resale of up to 53,390,008 shares of common stock by selling stockholders. This filing follows the company's acquisition of Corvex Legacy Holdings, Inc. on March 19, 2026, and its subsequent name change on March 23, 2026. The S-1 also details the conversion of Series B and C Preferred Stock into Common Stock, a 1.358-for-1 stock split, and the remaining convertible Series D Preferred Stock. The company will not receive any proceeds from the resale of these shares, and the filing highlights potential dilution risks.
Key Highlights
- Filed S-1 registration for resale of up to 53,390,008 common shares by selling stockholders.
- Completed acquisition of Corvex Legacy Holdings, Inc. on March 19, 2026.
- Changed company name to Corvex, Inc. on March 23, 2026.
- Effected a 1.358-for-1 stock split (35.8% stock dividend) on April 6, 2026.
- Series B and C Preferred Stock converted to Common Stock by July 7, 2026.
- 28,929.5944 Series D Preferred Stock remain convertible into 28,929,588 shares.
- 27,635,745 common shares outstanding as of July 8, 2026.
- Common stock listed on Nasdaq Capital Market under "MOVE" at $16.50 on July 8, 2026.
Price Impact
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