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CORVEX TO GO PUBLIC IN ALL-STOCK MERGER WITH MOVANO, CREATING A PURE-PLAY PLATFORM FOR SECURE AI INFRASTRUCTURE AND HIGH-PERFORMANCE INFERENCE
Strategic combination positions combined company to capture AI infrastructure demand at scale Movano (Nasdaq: MOVE) shareholders gain exposure to rapidly
About this update from Corvex, Inc.
[{"type":"text","content":"\n \n \n Strategic combination positions combined company to capture AI infrastructure demand at scale\n \n \n \n \n Movano (Nasdaq: MOVE) shareholders gain exposure to rapidly emerging AI infrastructure pure play platform with differentiated product offering, a growing sales pipeline with attractive credit quality, leadership experienced in large-scale distributed computing and software development, and disciplined capital allocation\n \n \n \n \n Merger exchange ratio based upon a Movano per share value of $6.25\n \n \n \n \n Corvex, together with Movano, raised an aggregate of $40.0 million from concurrent private placement financings\n \n \n \n \n Taking into account concurrent financings, Corvex shareholders to receive 46.6 million shares of Movano stock \n \n \n \n \n Movano Health to resume process to market its medical device operations, including FDA-cleared EvieMED Ring and proprietary mmWave RF technology for cuffless blood pressure and noninvasive glucose monitoring \n \n \n \n \n PLEASANTON, Calif. and ARLINGTON, Va., Nov. 10, 2025 /PRNewswire/ --Movano Inc. (\"Movano\") (Nasdaq: MOVE) and Corvex, Inc. (\"Corvex\"), an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, today announced a definitive agreement (the \"Merger Agreement\") to combine the companies in an all-stock transaction (the \"Merger\"). The Merger marks a key step in Corvex's plan to enter the public markets and underscores its emerging leadership addressing the three defining challenges of the AI era – more scale, more efficiency, and more security – via its Amplified AI CloudTM platform. As global demand for reliable and secure AI computing accelerates, Corvex offers investors differentiated exposure to the infrastructure layer powering the AI innovators of today and tomorrow.\n \"Today's announcement marks an important milestone for our company,\" said Jay Crystal, Co-Chief Executive Officer and Co-Founder of Corvex. \"From day one, our success has been grounded in engineering excellence, an obsession with our customers' success, and disciplined capital allocation. Entering the public markets is a natural extension of this ethos—it allows us to accelerate our growth and craft a differentiated set of GPU-as-a-Service and AI-as-a-Service capabilities designed to attract customers with strong growth potential...