Corvex, Inc. filings document the company's public-company transition, material-event reporting, securities registration activity, and capital structure. Recent 8-K reports cover material agreements, shareholder voting matters, governance matters, operating and financial results, and Nasdaq listing-compliance disclosures for the MOVE common stock.
Registration statements filed under the former Movano Inc. name describe offered securities, issuer status as a smaller reporting company and emerging growth company, and delayed or continuous offering mechanics. The filing record also documents the completed merger-related change to Corvex, Inc. and related capitalization and governance disclosures.
Corvex, Inc. (symbol: MOVE) is the issuer of record for a Form 8-K filing submitted to the SEC.
Corvex, Inc. reported second-quarter 2026 results, its first full period including the AI cloud computing business acquired in the March 19, 2026 merger. Revenue for the quarter ended June 30, 2026 was $3.8 million, up from $0.1 million a year earlier, driven entirely by AI platform and services, as the legacy connected devices business contributed no revenue.
The company recorded a net loss of $12.8 million for the quarter and adjusted EBITDA of $(3.2) million, reflecting high operating expenses including significant stock-based compensation. Management highlighted contracted annualized recurring revenue on live compute of approximately $22 million as of August 14, 2026, indicating a growing base of committed AI infrastructure usage. Cash and cash equivalents were $21.7 million as of June 30, 2026, supported by the merger-related balance sheet expansion.
After quarter end, Corvex simplified its capital structure by converting Series A and C preferred stock and part of Series D into common stock, resulting in about 56.6 million common shares on an as-converted basis and a resale registration covering up to 53,390,008 existing-holder shares, from which Corvex will not receive proceeds.
Corvex, Inc. (formerly Movano) transformed via its March 2026 acquisition of Corvex OpCo into an AI cloud provider focused on GPU-accelerated infrastructure, while disposing of its wellness ring business on June 30, 2026 through transfer of legacy assets to settle a related-party bridge loan, recording a $2.5 million gain.
For the three months ended June 30, 2026, Corvex generated $3.8 million in revenue (all from AI Platform and services) versus $0.1 million a year earlier, but reported a net loss of $12.8 million versus $3.2 million, driven by higher operating expenses and $9.7 million of stock-based compensation. Six-month revenue was $4.3 million with a net loss of $17.8 million. Cash and cash equivalents rose to $21.7 million from $2.8 million, helped by $36.7 million of cash acquired in the merger, while net cash used in operations was $9.6 million. Total assets increased to $599.3 million, including $519.3 million of goodwill and $15.0 million of intangibles. The AI business relies heavily on a few counterparties: one supplier provided 26% of purchases, and two customers accounted for 93% of revenue.
Corvex, Inc. is registering up to 53,390,008 shares of common stock for potential resale by existing selling stockholders. The shares include 28,929,588 shares issuable upon conversion of outstanding Series D Preferred Stock and 24,460,420 shares already issued from prior preferred conversions. Corvex will not receive any proceeds from these resales; selling stockholders will decide the timing and method of any sales.
Corvex operates an engineering-led AI cloud computing platform focused on GPU‑accelerated infrastructure for AI workloads, including AI Factories, GPU clusters, confidential computing and a Token Factory in development. As of July 8, 2026, 27,635,745 shares of common stock were outstanding, and assuming full conversion and resale, common stock outstanding would be 56,565,333 shares. The company notes that if all 53,390,008 shares were outstanding, they would represent about 94% of current shares, highlighting potential stock overhang risk.
Corvex, Inc. is registering up to 53,390,008 shares of common stock for potential resale by existing holders, not for a primary capital raise. The shares consist of up to 28,929,588 shares issuable upon conversion of outstanding Series D Non-Voting Convertible Preferred Stock and 24,460,420 shares already issued from prior conversions of Series A, B, C and D preferred stock.
Common stock outstanding was 27,635,745 shares as of July 8, 2026, and would be 56,565,333 shares if all Series D preferred shares are converted and all offered shares are issued. Corvex operates an engineering-led AI cloud computing platform focused on GPU-accelerated infrastructure for AI workloads and is listed on Nasdaq under the symbol MOVE, with a last reported price of $16.50 on July 8, 2026.
The company will not receive any proceeds from sales under this prospectus; Selling Stockholders will receive all sale proceeds and may sell at their discretion over time. A risk factor highlights that if all 53,390,008 shares were outstanding, they would represent approximately 94% of the then-outstanding common stock, creating potential share overhang and dilution for existing investors.
Corvex, Inc. Co-Chief Executive Officer John Crystal III reports beneficial ownership of 4,071,809 shares of Common Stock, representing 14.8% of the outstanding class. His holdings include shares owned directly and through a Roth IRA trust for which he serves as trustee.
These shares were largely received between March and July 2026 as consideration for Corvex, Inc.’s acquisition of Corvex Legacy Holdings, Inc., reflecting his prior ownership and compensation there. He also holds additional unvested restricted stock units and unexercisable stock options that are not counted in his current beneficial ownership.
Seth Demsey, Co-Chief Executive Officer and director of Corvex, Inc., reports beneficial ownership of 5,540,329 shares of the company’s common stock, representing 20.0% of the 27,635,745 shares outstanding as of July 7, 2026. These shares include 5,508,920 held directly and 31,409 held through Ainsworth Holdings, LLC, over which he has sole voting and dispositive power. He also holds additional unvested restricted stock units and unexercisable stock options that are excluded from this 20.0% figure. Demsey received these shares primarily as consideration for Corvex, Inc.’s acquisition of Corvex Legacy Holdings, Inc. and for his executive and board service, giving him significant influence over the company’s governance and strategic direction.
Corvex, Inc. director and Co-CEO Seth Demsey reported automatic conversions of Series C preferred stock into common stock. On July 7, 2026, 5,484.3883 shares of Series C Non-Voting Convertible Preferred Stock converted into 5,484,388 shares of common stock at a 1-to-1,000 ratio, increasing his direct common stock holdings to 8,563,155 shares. A further 31.2700 preferred shares held through Ainsworth Holdings, LLC converted into 31,270 common shares, bringing Ainsworth’s indirectly held common stock to 31,409 shares. After these conversions, no Series C preferred stock remains outstanding for Demsey in this filing.
Corvex, Inc. director and Co‑CEO Crystal John Adler III reported automatic conversions of Series C preferred stock into common stock of MOVE. On July 7, 2026, 3,345.5239 shares of Series C Non‑Voting Convertible Preferred Stock converted into 3,345,523 shares of common stock, and 708.1544 Series C shares held through the John Adler Crystal III Roth IRA converted into 708,154 common shares, all at a 1‑to‑1,000 conversion ratio. Following these conversions, Adler holds 6,414,723 common shares directly and 711,321 common shares indirectly through the Roth IRA, and no Series C Preferred Stock remains outstanding in these positions.