Movano Health Prices $8M Public Offering Of 8M Shares Of Common Stock At A Price Of $1/Share
Portfolio Pulse from Benzinga Newsdesk
Movano Health (NASDAQ: MOVE) has priced an $8 million underwritten public offering of 8 million shares of its common stock at $1 per share. The offering is expected to close on June 15, 2023, and the net proceeds will be used for general corporate purposes, including product development and commercialization activities.
June 13, 2023 | 12:07 pm
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NEUTRAL IMPACT
Movano Health's $8 million public offering of 8 million shares at $1 per share may impact its stock price in the short term.
The public offering may have a neutral impact on Movano Health's stock price in the short term. While the offering could dilute existing shareholders' ownership, the proceeds will be used for general corporate purposes, including product development and commercialization activities, which could potentially benefit the company in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100