AcquisitionsMay 19, 2026, 04:08 PM
Corvex Reports Pro Forma Financials Post-Merger with Corvex OpCo
AI Summary
Corvex, Inc., formerly Movano Inc., completed its acquisition of Corvex Legacy Holdings, Inc. (Corvex OpCo) on March 19, 2026. The company filed unaudited pro forma condensed combined financial statements for the three months ended March 31, 2026, and for the year ended December 31, 2025, reflecting the merger as if it occurred on January 1, 2025. The estimated purchase price for the acquisition was $581.9 million, resulting in $518.3 million in goodwill.
Key Highlights
- Corvex completed the acquisition of Corvex Legacy Holdings, Inc. on March 19, 2026.
- Estimated purchase price for the acquisition was $581.9 million.
- Goodwill recorded from the acquisition was $518.3 million.
- Pro forma combined net loss for Q1 2026 was $(15.9) million.
- Pro forma combined net loss for FY 2025 was $(68.4) million.
- Pro forma combined Adjusted EBITDA for Q1 2026 was $(0.9) million.
- Pro forma combined Adjusted EBITDA for FY 2025 was $(13.7) million.
- A stock dividend of 0.358 shares per outstanding share was declared, treated as a 1.358-for-1 stock split.
Price Impact
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