Movano Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events
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Item 2.02 Results of Operations and Financial Condition.
The information contained in Item 8.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 8.01 Other Events.
On May 15, 2025, Movano Inc. (the “Company”) reported that its Board of Directors has initiated a process to explore strategic alternatives, including a sale, merger or similar transaction involving the Company, to maximize shareholder value. To support this process, Movano Health’s Board of Directors has engaged Aquilo Partners as its financial advisor and K&L Gates LLP as its legal counsel. 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. The Company 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. The Company estimates that as of March 31, 2025, the Company’s balance sheet included approximately $4.3 million in cash and cash equivalents, $2.5 million in accounts payable and $7.8 million in total assets.
Forward-Looking Statements
This current report on Form 8-K 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 strategic initiatives. 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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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MOVANO INC. | |
| Dated: May 19, 2025 | /s/ Jeremy Cogan |
| Jeremy Cogan | |
| Chief Financial Officer |
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