Movano Health announces proposed public offering

Movano Health, a purpose-driven healthcare solutions company at the intersection of medical and consumer devices and makers of the Evie Ring, today announced that it is proposing to sell shares of its common stock and warrants to purchase common stock in an underwritten public offering. All of the shares in the underwritten public offering are to be sold by Movano Inc. The Company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of shares of common stock and/or warrants to purchase shares of common stock sold in the offering at the public offering price, less the underwriting discount. The warrants will not be listed on any securities exchange or other nationally recognized trading system. The final terms of the proposed offering will depend on market and other conditions, and there can be no assurance as to whether the offering may be completed, or as to the actual size and terms of the offering.

The Company intends to use the net proceeds from the offering for general corporate purposes, which may include funding product development and commercialization activities.

Newbridge Securities Corporation is acting as sole book-running manager for the offering.

The common stock and warrants to purchase common stock described above are being 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. The offering will be made only by means of the prospectus supplement and the accompanying base prospectus, as may be further supplemented by any free writing prospectus and/or pricing supplement that the Company may file with the SEC. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
MB Bureau