By Devika Patel
Knoxville, Tenn., July 18 - Microvision, Inc. will sell $26.03 million of its shares in a direct offering, according to an 8-K filed Friday with the Securities and Exchange Commission and a prospectus supplement.
The shares will be sold via a shelf registration, which was declared effective May 7.
The company will sell 11,171,674 common shares at $2.33 per share. The investors also will receive detachable warrants for 6,703,004 shares, exercisable at $3.60.
FTN Midwest Securities Corp. and Craig-Hallum Capital Group LLC are the agents.
Settlement is expected July 23.
Proceeds will be used for general corporate purposes.
Based in Bothell, Wash., Microvision develops high-resolution displays and imaging systems used in military, medical, industrial and consumer applications.
| Issuer: | Microvision, Inc.
|
| Issue: | Common stock
|
| Amount: | $26.03 million
|
| Shares: | 11,171,674
|
| Price: | $2.33
|
| Warrants: | For 6,703,004 shares
|
| Warrant strike price: | $3.60
|
| Agents: | FTN Midwest Securities Corp. and Craig-Hallum Capital Group LLC
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $3.00 at close July 17
|
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