Azimuth Opportunity to buy common shares at discount over two years
By Devika Patel
Knoxville, Tenn., Sept. 13 - Microvision, Inc. arranged a $35 million committed equity financing facility with Azimuth Opportunity Ltd. on Sept. 13, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Reedland Capital Partners is the agent.
Azimuth has committed to purchase up to 22,030,737 common shares over two years.
The shares will be sold at a discount ranging from 3.5% to 6.5%.
Based in Bothell, Wash., Microvision develops high-resolution displays and imaging systems used in military, medical, industrial and consumer applications.
| Issuer: | Microvision, Inc.
|
| Issue: | Committed equity financing facility
|
| Amount: | $35 million
|
| Tenor: | Two years
|
| Price: | Discounted from 3.5% to 6.5%
|
| Warrants: | No
|
| Agent: | Reedland Capital Partners
|
| Investor: | Azimuth Opportunity Ltd.
|
| Settlement date: | Sept. 13
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $1.05 at close Sept. 13
|
| Market capitalization: | $113.68 million
|
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