Company sells shares via Northland Capital to fund corporate purposes
By Devika Patel
Knoxville, Tenn., March 30 – Microvision, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $900,000 greenshoe in full, lifting total proceeds of the offering to $6.9 million. The deal was announced March 21 and priced for $6 million with the greenshoe on March 22.
The company sold 4,058,823 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. Of the shares, 529,411 were part of the fully exercised greenshoe.
Northland Capital Markets was the bookrunner.
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: | $6.9 million, including $900,000 greenshoe of 529,411 shares
|
| Shares: | 4,058,823
|
| Price: | $1.70
|
| Warrants: | No
|
| Bookrunner: | Northland Capital Markets
|
| Announcement date: | March 21
|
| Pricing date: | March 22
|
| Settlement date: | March 30
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $1.76 at close March 17
|
| Market capitalization: | $96.88 million
|
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