Movano Health's Board of Directors Initiates Process to Maximize Shareholder Value
Movano Health (MOVE) has announced that its Board of Directors has initiated a strategic review process to explore potential options including a sale, merger, or similar transaction to maximize shareholder value. The company has engaged Aquilo Partners as financial advisor and K&L Gates LLP as legal counsel to support this process.
The company emphasized that there is no guarantee this process will result in any transaction or strategic change. Additionally, Movano disclosed that due to resource constraints, it will not be able to file its Q1 2025 Form 10-Q report on time.
Movano Health (MOVE) ha annunciato che il suo Consiglio di Amministrazione ha avviato un processo di revisione strategica per valutare possibili opzioni, tra cui una vendita, fusione o operazione simile, al fine di massimizzare il valore per gli azionisti. La società ha incaricato Aquilo Partners come consulente finanziario e K&L Gates LLP come consulente legale per supportare questo processo.
La società ha sottolineato che non vi è alcuna garanzia che questo processo porti a una transazione o a un cambiamento strategico. Inoltre, Movano ha comunicato che, a causa di vincoli di risorse, non sarà in grado di presentare in tempo il rapporto trimestrale Q1 2025, il modulo 10-Q.
Movano Health (MOVE) ha anunciado que su Junta Directiva ha iniciado un proceso de revisión estratégica para explorar opciones potenciales, incluyendo una venta, fusión o transacción similar, con el fin de maximizar el valor para los accionistas. La compañía ha contratado a Aquilo Partners como asesor financiero y a K&L Gates LLP como asesor legal para apoyar este proceso.
La empresa enfatizó que no hay garantía de que este proceso resulte en alguna transacción o cambio estratégico. Además, Movano informó que debido a limitaciones de recursos, no podrá presentar a tiempo su informe trimestral Q1 2025, el formulario 10-Q.
Movano Health (MOVE)는 이사회를 통해 주주 가치를 극대화하기 위한 매각, 합병 또는 유사 거래 등 잠재적 옵션을 모색하는 전략 검토 절차를 시작했다고 발표했습니다. 회사는 이 과정을 지원하기 위해 금융 자문사 Aquilo Partners와 법률 자문사 K&L Gates LLP를 선임했습니다.
회사는 이 과정이 반드시 거래나 전략적 변화로 이어질 것이라는 보장은 없다고 강조했습니다. 또한, 자원 제약으로 인해 2025년 1분기 Form 10-Q 보고서를 제때 제출할 수 없음을 공개했습니다.
Movano Health (MOVE) a annoncé que son conseil d'administration a lancé un processus d'examen stratégique afin d'explorer des options potentielles, incluant une vente, fusion ou transaction similaire, dans le but de maximiser la valeur pour les actionnaires. La société a mandaté Aquilo Partners comme conseiller financier et K&L Gates LLP comme conseiller juridique pour accompagner ce processus.
La société a souligné qu'il n'y a aucune garantie que ce processus aboutisse à une transaction ou à un changement stratégique. De plus, Movano a révélé qu'en raison de contraintes de ressources, elle ne pourra pas déposer à temps son rapport trimestriel Q1 2025, le formulaire 10-Q.
Movano Health (MOVE) hat bekannt gegeben, dass sein Vorstand einen strategischen Überprüfungsprozess eingeleitet hat, um potenzielle Optionen wie Verkauf, Fusion oder ähnliche Transaktionen zu prüfen, um den Aktionärswert zu maximieren. Das Unternehmen hat Aquilo Partners als Finanzberater und K&L Gates LLP als Rechtsberater beauftragt, um diesen Prozess zu unterstützen.
Das Unternehmen betonte, dass es keine Garantie gibt, dass dieser Prozess zu einer Transaktion oder strategischen Veränderung führt. Zudem gab Movano bekannt, dass es aufgrund von Ressourcenbeschränkungen nicht in der Lage sein wird, seinen Q1 2025 Form 10-Q-Bericht fristgerecht einzureichen.
- Board's proactive approach to maximize shareholder value through strategic alternatives
- Professional engagement of financial and legal advisors for the strategic review process
- Inability to file Q1 2025 10-Q report on time due to resource constraints
- Financial difficulties implied by resource constraints
- Uncertainty regarding the outcome of the strategic review process
There can be no assurance that this process will result in any transaction or other strategic change or as to the timing of any such potential agreement or transaction. Movano Health does not intend to disclose further developments unless and until the Board of Directors has approved a specific course of action or determines that further disclosure is appropriate or required. The Company also reported that due to resource constraints, it does not plan to timely file its quarterly report on Form 10-Q for the quarter ended March 31, 2025.
About Movano Health
Founded in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health is developing a suite of purpose-driven healthcare solutions to bring medical-grade data to the forefront of wearables. Featuring modern and flexible form factors, Movano Health's devices offer an innovative approach to delivering trusted data to both customers and enterprises, capturing a comprehensive picture of an individual's health data and uniquely translating it into personalized and intelligent insights.
Movano Health's proprietary technologies and wearable medical device solutions enable the use of data as a tool to proactively monitor and manage health outcomes across a number of patient populations that exist in healthcare. For more information on Movano Health, visit https://movanohealth.com/.
Forward Looking Statements
This press release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs, or strategies regarding the future. These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially from those anticipated. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding the Company's strategic plans and value, plans with respect to the commercial launches of the Evie Ring and EvieMED; our expectations regarding potential commercial opportunities and addressable markets; planned cost-cutting initiatives; anticipated FDA clearance decisions with respect to our products; expected future operating results; product development efforts and product releases; clinical trial and regulatory initiatives; commercial partner activities; our strategies, positioning and expectations for future events or performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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SOURCE Movano
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