California — Makers of the Evie Ring and a business focused on providing healthcare solutions, Movano Health (Nasdaq: MOVE) announced that it had priced a USD 6.5 million underwritten public offering of over 4 million shares of its common stock and warrants to buy up to 2,322,000 shares of common stock.

 The warrants, which will be exercisable at $1.57 per share, are being offered at a ratio of one contract for every two shares of common stock. Before underwriters’ discounts and charges, the public offering price for each share of common stock and a corresponding warrant is $1.40.

Movano Inc. sold all of the securities in the underwritten public offering. The Company has given the underwriter a 30-day option to buy up to 15% more of the common stock offered in the offering and warrants to buy shares of common stock at the public offering price less the underwriting discount. No securities exchange or other nationally renowned trading system will list the contracts. The sale is anticipated to end on January 31, 2023.

The Company plans to use the funding capital  from the offering for general business purposes, including paying for product research and commercialization operations.

The offering’s only book-running manager was Newbridge Securities Corporation.

Movano Inc. was represented in the transaction by K&L Gates LLP, while McGuireWoods LLP represented the underwriter.

According to a registration statement that Movano had previously filed with the Securities and Exchange Commission, which had later been deemed valid, the common stock and options to buy common stock stated above were offered by Movano (the “SEC”).

More about the company:

Having been established in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health is creating a range of healthcare solutions with a specific focus on bringing high-grade, medical-grade data to the forefront of consumer health gadgets. 

Movano Health’s gadgets, which have cutting-edge form factors, gather a complete picture of a person’s important health information and, in a unique way, transform the data into individualized and intelligent insights that enable users to live healthier and more balanced lifestyles. Consumers, carers, and healthcare professionals will soon be able to use everyday medical-grade data to proactively monitor and manage their health thanks to Movano Health’s end-to-end solutions.

In the middle of 2023, customers will be able to purchase Movano Health’s Evie Ring, mainly made to treat women’s health issues.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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