Movano Health Completes $7.5 Million Public Offering

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[{"type":"text","content":"PLEASANTON, Calif., Feb. 6, 2023 /PRNewswire/ -- Movano Health (Nasdaq: MOVE), a purpose-driven healthcare solutions company at the intersection of medical and consumer devices and makers of the Evie Ring, today announced that it has completed a $7.5 million underwritten public offering of 5,340,600 shares of its common stock and warrants to purchase up to 2,670,300 shares of common stock, including the full exercise of the underwriter's overallotment option. The warrants were sold at the rate of one warrant for every two shares of common stock and will be exercisable at a price per share of $1.57. The public offering price, before the underwriters' discount and commissions, for each share of common stock and accompanying warrant was $1.40. All of the securities in the underwritten public offering were sold by Movano Inc. The warrants will not be listed on any securities exchange or other nationally recognized trading system. \n\n \n \n \n \n \n \n\n \nThe Company intends to use the net proceeds from the offering for general corporate purposes, which may include funding product development and commercialization activities.\nNewbridge Securities Corporation acted as sole book-running manager for the offering.\nK&L Gates LLP represented Movano Inc. and McGuireWoods LLP represented the underwriter in the transaction.\nThe common stock and warrants to purchase common stock described above were offered by Movano pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (the \"SEC\"). A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. A final prospectus supplement describing the terms of the offering will filed with the SEC. Copies of the final prospectus supplement, and accompanying base prospectus relating to this offering, may be obtained from Newbridge Securities Corporation, Attn: Equity Syndicate Department, 1200 North Federal Highway, Suite 400, Boca Raton, FL 33432, email: [email protected], telephone: (877) 447-9625.\nAbout Movano Health Founded in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health is developing a suite of purpose-driven healthcare solutions to bring medical-grade, high-quality data to the forefront of consumer health ...

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