GRMN - Glucose and blood pressure monitoring device developer Movano prices $42.5M IPO at $5

Movano (MOVE) has raised $42.5M by pricing initial public offering of 8.5M common stock at $5.00 per share.Underwriters' over-allotment us an additional 1.275M shares. Net proceeds will be used to advance the development and regulatory process of its proprietary glucose and blood pressure monitoring technology, which could help health-conscious individuals, including those with or at risk of diabetes, hypertension and other chronic diseases, improve health outcomes. Stock kicks-off trading today on Nasdaq Capital Market.Offering is expected to close on March 25.Movano is developing a proprietary platform that uses radio frequency ((RF)) technology, which it believes will enable the creation of low-cost and scalable sensors that are small enough to fit into a wearable device.The company currently plans to conduct pivotal trials for FDA 510((k)) clearance in the 2H21. The company has not generated any revenue to date.The company's major competitive or other industry participants include: Apple (AAPL), Google (GOOG), Philips (PHG), Garmin (GRMN),

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Glucose and blood pressure monitoring device developer, Movano prices $42.5M IPO at $5