Microvision will price underwritten public offering of common stock

Company also reduces $35 million equity financing with Azimuth

By Devika Patel

Knoxville, Tenn., Sept. 13 - Microvision, Inc. plans to price an underwritten public offering of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission. Oppenheimer & Co. Inc., the underwriter, with have a 30-day greenshoe.

Investors will also receive warrants.

Proceeds will be used for general corporate purposes.

The company also reported in the 8-K that it has reduced the size of a committed equity financing facility with Azimuth Opportunity Ltd. The two-year deal was negotiated for $35 million on Sept. 13 through agent Reedland Capital Partners. The shares are being sold at a discount ranging from 3.5% to 6.5%. The company expects that the public offering will require it to terminate the Azimuth financing, along with another stock purchase agreement negotiated with Azimuth on May 4.

Based in Redmond, Wash., Microvision develops high-resolution displays and imaging systems used in military, medical, industrial and consumer applications.

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