Corvex, Inc.

Corvex, Inc. announced a significant data center expansion, increasing its critical IT power capacity by more than fivefold to approximately 8 MW by year-end 2026, with potential to scale to over 20 MW. This expansion, involving two U.S. data centers and supporting around 3,000 new GPUs, will be funded by a $33 million private placement. The company also plans to use proceeds to advance its Token Factory and Assured AI platforms. Revenue from the expansion is expected to begin in Q1 2027.

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.

Corvex, Inc. announced the appointment of Seth Demsey as co-Chief Executive Officer, effective July 1, 2026, following the Annual Meeting. Mr. Demsey, previously co-CEO of Corvex OpCo, will serve alongside Jay Crystal. Additionally, stockholders approved the Corvex, Inc. 2026 Equity Incentive Plan and the 2026 Employee Stock Purchase Plan. The company also amended its Series D Preferred Stock in connection with a prior merger and preferred stock exchange.

Corvex, Inc. commenced its 2026 Annual Meeting of Stockholders on June 26, 2026, but subsequently adjourned it until July 1, 2026, at 3:00 pm Eastern Time. The adjournment was for administrative reasons, even though preliminary voting reports indicated overwhelming stockholder support for all agenda proposals. The company will continue to solicit votes from stockholders, with the record date for voting remaining April 28, 2026.

Corvex, Inc. announced the appointment of Christopher Chance Moreland as Chief Financial Officer, effective June 29, 2026. Moreland, a veteran from Morgan Stanley, brings extensive experience in institutional capital markets and leveraged finance, having advised on over 150 transactions including multi-billion-dollar financings in AI, data center, and power sectors. His appointment is crucial for Corvex as it scales its AI infrastructure platform and aims to build a robust capital formation engine to support its growth in GPU-accelerated computing.

Corvex, Inc. announced its 2026 Annual Meeting of Stockholders to be held virtually on June 26, 2026, at 10:00 a.m. Eastern Time. Stockholders will vote on several key proposals, including the election of directors, the ratification of BDO USA, P.C. as the independent auditor, and the approval of the 2026 Equity Incentive Plan and 2026 Employee Stock Purchase Plan. Crucially, the company seeks approval for the issuance of up to 68,642,440 shares of common stock related to the conversion of Series C and D Preferred Stock and the vesting/exercise of assumed RSUs and options following the March 19, 2026 merger with Corvex OpCo.

Corvex, Inc. reported its first quarter 2026 financial results, including 12 days of operations from the newly acquired Corvex OpCo. The company completed the acquisition of Corvex OpCo on March 19, 2026, transitioning its primary business to AI cloud computing and rebranding from Movano Inc. to Corvex, Inc. Total revenue for Q1 2026 was $510 thousand, with a net loss of $(5.1) million, or $(3.13) per share. Adjusted EBITDA loss improved by 67% to $(1.6) million.

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.

Corvex, Inc. (formerly Movano Inc.) completed its merger with Corvex Legacy Holdings, Inc. on March 19, 2026, and subsequently changed its name on March 23, 2026. For Q1 2026, the company reported a net loss of $5.01 million, an improvement from $5.18 million in Q1 2025, with total revenue increasing to $0.51 million from $0.21 million year-over-year. The merger significantly impacted the balance sheet, with total assets increasing to $604.48 million and stockholders' equity improving to $576.00 million.

Corvex, Inc. (MOVE) announced the dismissal of RBSM LLP as its independent registered public accounting firm and the engagement of BDO USA, P.C. for the fiscal year ending December 31, 2026. This change, approved by the Audit Committee on April 27, 2026, is in connection with the company's merger completed on March 19, 2026. RBSM's audit report for fiscal year 2025 included an explanatory paragraph about the company's ability to continue as a going concern, and material weaknesses in internal control over financial reporting were previously disclosed. There were no disagreements with RBSM on accounting matters, and BDO previously audited Corvex Legacy Holdings, Inc.