ARLINGTON, Va., March 24, 2026 /PRNewswire/ -- Corvex, Inc. (Nasdaq:MOVE) ("Corvex" or the "Company") today announced additional details regarding the special 35.8% stock dividend (the "Stock Dividend") previously announced on March 19, 2026.
Each stockholder of record as of the close of business on March 30, 2026 will be entitled to receive a 35.8% stock dividend at no cost and with no action required on the part of the stockholder.
For example, a stockholder holding 10,000 shares of Corvex common stock, par value $0.0001 per share (the "Common Stock") as of the close of trading on March 30, 2026 would receive 3,580 additional shares of Common Stock on the distribution date of April 6, 2026.
No fractional shares will be issued. Any fractional share entitlement will be paid out in cash.
To be eligible to receive the Stock Dividend, you must hold shares of Corvex, Inc. Common Stock (Nasdaq:MOVE) as of the close of business on March 30, 2026.
Eligible stockholders do not need to take any action to receive the Stock Dividend. Additional shares will be automatically credited to your brokerage account or delivered through the Depository Trust Company on the distribution date.
The Stock Dividend is payable pursuant to the terms of the Amended and Restated Agreement and Plan of Merger, dated March 19, 2026 (the "Merger Agreement"), by and among the Company (formerly Movano Inc.), Thor Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Company, and Corvex, Inc.
About Corvex, Inc.
Corvex is an engineering-led AI computing platform specializing in GPU-accelerated infrastructure for AI workloads. The Company provides secure, scalable, and cost-efficient computational resources through its Amplified AI Cloud™ platform, including AI Factories and GPU Clusters, Confidential Computing solutions, and its forthcoming Token Factory inference platform. Prior to the merger, Corvex raised $40.2 million to fund platform expansion.
Corvex is headquartered in Arlington, Virginia. For more information, visit https://corvex.ai.
Trading Information
Common Stock trades on The Nasdaq Stock Market under the ticker symbol "MOVE."
Contacts
Investor Contact J. Cogan, [email protected]
Media Contact Chris Donahoe, Stillpoint, [email protected]
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as "could," "estimate," "expect," "intend," "may," "plan," "potentially," or "will" or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to the timing and payment terms of the Stock Dividend. All statements other than statements of historical fact contained in this press release are forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are made based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management, concerning future developments and their potential effects. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including the risks and uncertainties described in the Company's SEC reports, and under the heading "Risk Factors" in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov and in other filings the Company makes and will make with the SEC. The forward-looking statements contained herein speak only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.
SOURCE Corvex
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