Company Update (NASDAQ:MVIS): Microvision, Inc. Raises $2.14 Million From the Sale of Common Stock
Microvision, Inc. (NASDAQ:MVIS) announced the sale of two million shares of its common stock at a price of $1.07 per share to Ben Lawrence-Farhi in a registered direct offering for gross proceeds of $2.14 million.
MicroVision intends to use the net proceeds for general corporate purposes. Farhi had indicated his interest in participating in the company’s recently completed underwritten public offering of shares of company common stock at a price to the public of $1.07per share, but was unable to do so due to logistical reasons.
The securities described above are being offered by MicroVision pursuant to its registration statement on Form S-3 (Registration No. 333-211869) previously filed and declared effective by the Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. (Original Source)
Shares of Microvision closed today at $1.14, down $0.01 or -1.30%. MVIS has a 1-year high of $3.08 and a 1-year low of $0.89. The stock’s 50-day moving average is $1.33 and its 200-day moving average is $1.48.
MicroVision, Inc. is the creator of PicoP scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors.