Operator
Hi there, everybody. Thanks for becoming a member of us, and welcome to Corvex’s First Quarter 2026 Earnings Name. I’ll now hand the decision over to J Cogan, CFO. Please go forward, sir.
Jeremy Cogan
Chief Monetary Officer
Thanks, Kara. Good afternoon, everybody, and welcome to Corvex’s First Quarter 2026 Earnings Convention Name. Becoming a member of me right now are Corvex’s CEO, J Crystal; and Co-Founder and Director, Seth Demsey. A press launch detailing our outcomes was issued this afternoon and is out there within the Investor Relations part of our web site.
A replay and transcript shall be posted following the decision. Throughout right now’s name, we’ll make forward-looking statements based mostly on present expectations. Our precise outcomes might differ materially from such statements. Descriptions of the dangers and uncertainties related to Corvex are included in our SEC filings, which might be accessed by way of our web site. At present’s dialogue additionally consists of references to non-GAAP monetary measures. Reconciliation to essentially the most immediately comparable GAAP measure is included in our press launch and on our IR web site. On March 19, 2026, Corvex, Inc., previously generally known as Movano Inc., acquired Corvex Legacy Holdings, Inc., also called Corvex OpCo. The corporate was renamed Corvex Inc. efficient March 23, 2026. Pursuant to the merger settlement, at closing, we issued to the prior safety holders of Corvex OpCo 240,562 shares of Collection B convertible most well-liked inventory, representing not more than 19.9% of our excellent frequent inventory instantly previous to closing in addition to 23,551.5195 shares of Collection C most well-liked inventory and 30,227.0524 shares of Collection D most well-liked inventory.
On March 31, 2026, every share of Collection B most well-liked inventory routinely transformed into 1,000 shares of frequent
