Movano and Corvex announce all-stock merger to form secure AI infrastructure platform
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Movano Inc. and Corvex, Inc. have announced an all-stock merger to create a secure AI infrastructure platform. The merger will see Corvex shareholders receive 46.6 million shares of Movano stock, based on a per share value of $6.25. The combined entity will leverage Corvex’s Amplified AI Cloud platform to meet the increasing demand for efficient AI computing. Movano Health will continue to market its medical devices, including the FDA-cleared EvieMED Ring.
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