Movano Health Announces Proposed Public Offering; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Movano Health (NASDAQ:MOVE) has announced its intention to conduct an underwritten public offering of its common stock. The size and amount of the offering have not been disclosed. The company plans to grant the underwriter an option to purchase additional shares and intends to use the proceeds for general corporate purposes, including product development and commercialization. The Benchmark Company, LLC is the sole book-running manager, with its Liquid Venture Partners group executing the offering. There is no certainty that the offering will be completed or regarding its final terms.
November 14, 2023 | 10:07 pm
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Movano Health is proposing a public offering of its common stock, which may lead to dilution of existing shares but also provide capital for growth and product development.
Public offerings often result in dilution of existing shares, which can lead to a short-term negative impact on the stock price. However, the capital raised can be beneficial for long-term growth. The lack of details on the offering size and terms adds uncertainty, which can also negatively affect investor sentiment in the short term.
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