Movano Health stock falls ~23% after hours on proposed public offering
- Movano Health (NASDAQ:MOVE) on Thursday proposed to sell its shares and warrants to buy common stock in an underwritten public offering.
- MOVE stock slipped 23.1% to $1.30 after hours.
- "The Company intends to use the net proceeds from the offering for general corporate purposes, which may include funding product development and commercialization activities," MOVE said in a statement.
- Pleasanton, Calif.-based MOVE is the maker of the Evie Ring, which is a wearable health tracker for women that measures metrics like heart rate and menstrual cycle.
- All of the shares in the underwritten public offering are to be sold by MOVE.