Movano Inc, a health-focused technology developer, has filed Amendment No 1 to Form S-1 Registration Statement on March 10, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $36 million by offering 7.2 million shares at a price of $5. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $164 million.
The company is developing a platform that will enable the creation of low-cost and scalable sensors that are small enough to fit into a wearable, and other small form factors. Their platform also measures and continuously monitors vital health data and provides actionable feedback to jumpstart changes in behaviors.
The Pleasanton, California-based company was founded in 2018 and plans to list on the Nasdaq Capital Market under the symbol “MOVE.” National Securities is the underwriter of the IPO.
The company engages K&L Gates LLP as US Securities Counsel, and Moss Adams, LLP as Independent Auditor.
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