Corvex (MOVE) Registration filing summary

Company overview and business model

• Operates as an AI cloud computing platform focused on secure, scalable, and cost-efficient GPU-accelerated infrastructure for AI workloads.

• Offers AI Factories, GPU Clusters, confidential computing, and Token Factory (in alpha), targeting enterprise and security-conscious customers.

• Provides managed Kubernetes, bare metal, and HIPAA/SOC 2 compliant deployments.

• Recent merger completed in March 2026, resulting in a name change and expanded capabilities.

Financial performance and metrics

• Reported net loss of $18.3 million for 2025, improved from $23.7 million in 2024 (as adjusted for stock dividend).

• Weighted average shares used in computing net loss per share increased to 1,141,699 in 2025 from 817,970 in 2024.

• Stock dividend of 0.358 shares per share outstanding was distributed in April 2026, effectively a 1.358-for-1 stock split.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for working capital and general corporate purposes, including infrastructure expansion and commercialization activities.