DLA Piper Advised Corvex On All-Stock Merger With Movano

DLA Piper advised Corvex on all-stock merger with Movano

DLA Piper advised Corvex, Inc., an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, on its all-stock merger with Movano Inc., a healthcare technology company listed on the Nasdaq Stock Market.

The merger was announced on November 10 and remains subject to approval by Movano stockholders. Simultaneously, Corvex, together with Movano, raised an aggregate of US$40 million from concurrent private placement financings, and Movano entered into a US$1 billion equity facility with Chardan Capital Markets LLC.

DLA Piper enables issuers and underwriters to execute complex securities transactions throughout the world. We offer tactical approaches to financings across equity and debt capital markets, alternative public offerings (de-SPACs, reverse mergers, and direct listings), and other transformative corporate transactions. Lawyers in our Corporate Governance practice act as outside corporate and securities counsel to a wide range of reporting companies by guiding clients through securities offerings and nuanced disclosure, governance, and compliance matters under SEC, Nasdaq, and NYSE rules and regulations. Boards of directors turn to us to navigate complex transactions, special investigations, and challenging risk oversight matters. Please visit Capital Markets and Public Company Advisory and Market Edge.

The DLA Piper team was led by Brian Burke (Partner), Josh Kaufman (Partner) co-led Jonathan Klein (Partner), Steve Reil (Partner), and Gina Lee (Associate), Alex Carlson (Associate), Melody Lilazy (Associate), Kenneth Rowles (Associate).

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