PLEASANTON, Calif., June 15,
2023 /PRNewswire/ -- Movano Health (Nasdaq:
MOVE) ("Movano Health" or the "Company"), a purpose-driven
healthcare solutions company at the intersection of medical and
consumer devices and makers of the Evie
Ring, today announced the closing of its $9.2 million underwritten public offering of
9,200,000 shares of its common stock, including 1,200,000 shares of
its common stock issued pursuant to the full exercise by the
underwriter of its over-allotment option. The public offering
price, before the underwriters' discount and commissions, for each
share of common stock was $1.00. All
of the securities in the underwritten public offering were sold by
the Company.
The Company intends to use the net proceeds from the offering
for general corporate purposes, which may include funding product
development and commercialization activities.
The Benchmark Company, LLC acted as sole book-running manager
for the offering. The Liquid Venture Partners group at The
Benchmark Company, LLC was responsible for sourcing and executing
the offering.
K&L Gates LLP represented the Company and Greenberg Traurig,
LLP represented the underwriter in the transaction.
The common stock described above was offered by Movano Health
pursuant to a shelf registration statement on Form S-3 (File No.
333-264116), including a base prospectus, previously filed with and
subsequently declared effective by the Securities and Exchange
Commission (the "SEC"). A final 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. Copies of the final prospectus
supplement, and accompanying base prospectus relating to this
offering, may be obtained from The Benchmark Company, LLC, 150 East
58th Street, 17th floor, New York, NY 10155, by email
at prospectus@benchmarkcompany.com, or by calling +1
(212)-312-6700.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About 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 devices. Featuring modern form
factors, Movano Health's devices capture a comprehensive
picture of a person's vital health information and uniquely
translate the data into personalized and intelligent insights that
empower consumers to live healthier and more balanced
lives. Movano Health's end-to-end solutions will soon
enable consumers, caretakers, and healthcare professionals to
utilize daily medical-grade data as a tool to proactively monitor
and manage their health.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the intended use of proceeds from the offering.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially, including those risks disclosed in the section
"Risk Factors" included in the final prospectus supplement for the
offering. Movano Health cautions readers not to place undue
reliance on any forward-looking statements. Any forward-looking
statement in this release speaks only as of the date of this
release. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/movano-health-announces-closing-of-9-2-million-public-offering-including-full-exercise-of-over-allotment-option-301852147.html
SOURCE Movano