MicroVision Announces Closing of $6.9 Million Offering of Common Stock

Date Announced: 30 Mar 2016

Laser display firm replenishes cash position.

REDMOND, Wash.--(BUSINESS WIRE)--MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature laser display and imaging technology, today announced the closing of its underwritten public offering of 4,058,823 shares of its common stock, which includes the exercise in full of the underwriter’s option to purchase up to an additional 529,411 shares, at a public offering price of $1.70 per share for gross proceeds of approximately $6.9 million.

Northland Capital Markets acted as Sole Book Runner in the offering.

MicroVision expects to receive net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $6.2 million from the offering. MicroVision intends to use the net proceeds for general corporate purposes.

Source: MicroVision

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