diff --git a/stage1/wasm2c.c b/stage1/wasm2c.c
index 425cc682b8..adbf8667e5 100644
--- a/stage1/wasm2c.c
+++ b/stage1/wasm2c.c
@@ -316,10 +316,10 @@ int main(int argc, char **argv) {
           "}\n"
           "\n"
           "static uint32_t memory_grow(uint8_t **m, uint32_t *p, uint32_t *c, uint32_t n) {\n"
-          "    uint8_t *new_m = *m;\n"
           "    uint32_t r = *p;\n"
           "    uint32_t new_p = r + n;\n"
           "    if (new_p > UINT32_C(0xFFFF)) return UINT32_C(0xFFFFFFFF);\n"
+          "    uint8_t *new_m = *m;\n"
           "    uint32_t new_c = *c;\n"
           "    if (new_c < new_p) {\n"
           "        do new_c += new_c / 2 + 8; while (new_c < new_p);\n"