M&A - Movano Inc.

Form Type: 8-K

Filing Date: 2025-05-19

Corporate Action: Merger

Type: New

Accession Number: 000121390025045106

Filing Summary: On May 15, 2025, Movano Inc. announced that its Board of Directors has initiated a process to explore strategic alternatives aimed at maximizing shareholder value. This includes potential avenues such as a sale, merger, or other similar transactions. To further this initiative, the company has engaged Aquilo Partners as a financial advisor and K&L Gates LLP as legal counsel. The company has indicated that there is no guarantee that this evaluation will lead to any definite transaction or strategic change, nor has a timeline for potential agreements been established. Additionally, Movano Inc. reported resource constraints preventing them from filing their quarterly report on Form 10-Q for the period ending March 31, 2025. As of that date, its balance sheet was highlighted with approximately $4.3 million in cash and cash equivalents, $2.5 million in accounts payable, and total assets amounting to $7.8 million.