Company sells shares via Northland Capital to fund corporate purposes
By Devika Patel
Knoxville, Tenn., March 22 – Microvision, Inc. said it priced a $6 million public sale of stock with a $900,000 greenshoe. The deal was announced on Monday.
The company will sell 3,529,412 common shares at $1.70 per share. The price per share is a 3.41% discount to the March 17 closing share price of $1.76.
Northland Capital Markets is the underwriter.
Settlement is expected on March 28.
Proceeds will be used for general corporate purposes.
Based in Redmond, 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 million
|
| Greenshoe: | $900,000, or 529,411 shares
|
| Shares: | 3,529,412
|
| Price: | $1.70
|
| Warrants: | No
|
| Underwriter: | Northland Capital Markets
|
| Announcement date: | March 21
|
| Pricing date: | March 22
|
| Settlement date: | March 28
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $1.76 at close March 17
|
| Market capitalization: | $86.33 million
|
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