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AI brief of an SEC Form 8-K · Corvex, Inc. (MOVE)

Corvex closes $33 million private placement to fund data center expansion

Neutral Impact 4 of 5 financing Written later

Corvex closed a private placement on September 2, 2026, selling 3,904,970 common shares at $7.75 per share and 353.098 shares of Series D Non-Voting Convertible Preferred Stock at $7,750 per share. The company says the roughly $33 million in gross proceeds will fund expansion of its critical IT power capacity from about 1.5 MW to about 8 MW by year-end 2026, with a right of first refusal on another 12.5 MW. Because the company must file a registration statement for resale of the shares by October 2, 2026, the new shares may later become available for sale in the market.

Key points

  • Common stock sold at $7.75 per share; Series D Preferred sold at $7,750 per share, with closing on September 2, 2026
  • Press release cites about $33 million in gross proceeds before fees and expenses, and pro forma cash of about $55 million versus $22 million as of June 30, 2026
  • Goldman Sachs, Morgan Stanley and Oppenheimer are joint lead placement agents; the company agreed to pay placement fees
  • Resale registration statement due to the SEC by October 2, 2026

The filing

CompanyCorvex, Inc. (MOVE)
Form8-K, current report
Filed with the SECSep 2, 2026, 5:00 PM ET
Accession number0001213900-26-096776

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 02, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.