Investors buy 3,492,000 common shares, warrants for 2,095,200 shares
By Devika Patel
Knoxville, Tenn., Sept. 19 - Microvision, Inc. completed a $6.57 million registered direct offering of stock on Sept. 19, according to an 8-K and prospectus supplement filed Thursday with the Securities and Exchange Commission. Dawson James Securities, Inc. was the agent.
The company sold 3,492,000 common shares. The price per share, of $1.88, is identical to the Sept. 18 closing share price.
Investors also received warrants for 2,095,200 shares. The warrants are each exercisable at $2.444 for five years. The strike price is a 30% premium to the Sept. 18 closing price.
Crede CG III, Ltd. was among the investors.
Proceeds will be used for development and commercialization of the company's PicoP display technology under its ingredient brand licensing strategy.
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: | $6,564,960
|
| Shares: | 3,492,000
|
| Price: | $1.88
|
| Warrants: | For 2,095,200 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.444
|
| Agent: | Dawson James Securities, Inc.
|
| Investor: | Crede CG III, Ltd.
|
| Settlement date: | Sept. 19
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $1.88 at close Sept. 18
|
| Market capitalization: | $54.48 million
|
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