Movano (MOVE) Registration Filing summary

Company overview and business model

• Operates as an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, offering secure, scalable, and cost-efficient computational resources for model training and inference.

• Provides managed GPU clusters, confidential computing, and is developing a Token Factory for efficient AI inference.

• Targets industries with high security and compliance needs, such as technology, healthcare, financial services, and government.

• Employs a direct sales model supported by strategic partnerships, focusing on annual or multi-year customer commitments.

Financial performance and metrics

• For the nine months ended September 30, 2025, reported $4.8 million in revenue and a net loss of $3.8 million.

• Adjusted EBITDA for the same period was $(0.5) million, reflecting significant investment in technology and infrastructure.

• As of September 30, 2025, had $2.7 million in cash and cash equivalents, with $18.5 million in convertible preferred stock outstanding.

• Revenue is concentrated, with four customers accounting for 95% of revenue in the period.

Use of proceeds and capital allocation

• May receive up to $1 billion in gross proceeds from Chardan under a committed equity facility, with actual proceeds dependent on share sales and market price.

• Proceeds are intended for general corporate purposes, with broad discretion in allocation, subject to Corvex's consent prior to merger closing.

• Significant capital expenditures planned for infrastructure expansion, technology upgrades, and scaling operations.