The Capital Markets team advised Chardan Capital Markets, LLC as exclusive financial advisor to Corvex on the Merger (as defined below), placement agent to Movano on the Bridge Financing (as defined below) and Equity Facility with Movano.
On November 6, 2025, Movano Inc. (Nasdaq:MOVE) (“Movano”) entered into a definitive merger agreement with Corvex, Inc. (“Corvex”) providing for an all-stock transaction pursuant to which Corvex will continue as a wholly-owned subsidiary of Movano and the surviving company of the merger (the “Merger”). In connection with the Merger, (1) Movano is raising $3.0 million in equity capital pursuant to a Series A preferred stock financing (the “Bridge Financing”), (2) Movano is entering into a $1.0 billion Equity Facility with Chardan Capital Markets LLC and (3) Corvex is raising $37.1 million of equity capital in a private placement transaction.
Corvex is an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads. Corvex is based in Arlington, Virginia, and is led by Seth Demsey and Jay Crystal, Co-Chief Executive Officers and Co-Founders, and Brian Raymond, Chief Technology Officer.
Founded in 2018, Movano Inc. dba Movano Health, maker of the Evie Ring (www.eviering.com), is developing a suite of purpose-driven healthcare solutions to bring medical-grade data to the forefront of wearables. On May 15, 2025, Movano announced its decision to initiate a process to explore strategic alternatives to maximize shareholder value.
The Goodwin team included Justin Platt, Laura Gulick, Jesse Fishman, and Benjamin Colao and Peter LaVigne.
For more information on the transaction, please read the press release.