Corvex, Inc. Completes $33M Private Placement

What Happened Corvex, Inc. (MOVE) announced a private placement under a Securities Purchase Agreement entered on August 31, 2026 and closed on September 2, 2026. The company sold 3,904,970 shares of common stock at $7.75 per share and 353.098 shares of Series D non‑voting convertible preferred stock at $7,750 per share, generating aggregate proceeds of approximately $33.0 million. The company also made a press release on August 31, 2026 announcing the transaction.

Key Details

• Common stock sold: 3,904,970 shares at $7.75 each — proceeds ≈ $30,263,517.50.
• Series D preferred sold: 353.098 shares at $7,750 each — proceeds ≈ $2,736,509.50.
• Total gross proceeds: ≈ $33,000,027.00.
• Registration rights: Corvex agreed to file a registration statement to register resale of the common shares and common stock issuable on conversion of the Series D by October 2, 2026 and to use commercially reasonable efforts to have it declared effective within 30 days thereafter (subject to exceptions).
• Placement agents: Goldman Sachs, Morgan Stanley and Oppenheimer served as joint lead placement agents; Corvex will pay customary placement fees and certain expenses.
• Securities sold in reliance on exemptions from registration (Section 4(a)(2) and Regulation D); resale in the U.S. will require registration or an applicable exemption.

Why It Matters This transaction raises about $33 million of capital, which affects Corvex’s liquidity and financing structure by issuing both common shares and convertible preferred shares to institutional and accredited investors. The registration rights mean those shares (and shares from conversion) are expected to become freely tradable for investors once the company’s registration statement becomes effective. Investors should note dilution from the new common shares and potential future shares if the Series D converts, and that the company bears placement fees and registration obligations disclosed in the filing.