- Movano Health ( NASDAQ: MOVE ) shares dipped 12% premarket on Friday after the healthcare solutions company priced a $6.5M securities offering.
- The offering comprises 4,644,000 shares of the firm's common stock and warrants to purchase up to 2,322,000 shares of common stock, each issued at $1.40.
- The warrants are being sold at the rate of one warrant for every two shares of common stock and will be exercisable at a price per share of $1.57.
- The underwriter has been granted a 30-day option to purchase up to an additional 15% of shares of common stock and/or warrants to purchase shares of common stock.
- Net proceeds from the offering will be used for general corporate purposes, which may include funding product development and commercialization activities.
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Movano Health stock dips after pricing $6.5M securities offering