08:53 AM EST, 11/10/2025 (MT Newswires) -- Movano (MOVE) agreed to merge with artificial intelligence cloud computing company Corvex in an all-stock deal that will take Corvex public and create a secure AI infrastructure platform, the companies said Monday.

The exchange ratio is based on a Movano per-share value of $6.25, and Corvex and Movano raised a combined $40 million through concurrent private placements, the companies said.

Taking into account the financings, Corvex shareholders are expected to receive 46.6 million Movano shares in the merger, according to the companies.

The Corvex management team will lead the combined company following the merger, the companies said.

Movano will be renamed Corvex upon consummation of the deal, they said.

Shares of Movano were up by over 150% in recent Monday premarket activity.