Company sells units through Oppenheimer to finance corporate purposes
By Devika Patel
Knoxville, Tenn., June 15 - Microvision, Inc. said it priced a $10.5 million public offering of units. The deal was announced Thursday.
The company will sell 4.2 million units of one common share and a half-share warrant at $2.50 per unit. The whole warrants are each exercisable at $2.65 for five years. The strike price is an 11.37% discount to the June 14 closing share price of $2.99.
Oppenheimer & Co. is the underwriter.
Settlement is expected June 20.
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: | Units of one common share and a half-share warrant
|
| Amount: | $10.5 million
|
| Units: | 4.2 million
|
| Price: | $2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.65
|
| Underwriter: | Oppenheimer & Co.
|
| Announcement date: | June 14
|
| Pricing date: | June 15
|
| Settlement date: | June 20
|
| Stock symbol: | Nasdaq: MVIS
|
| Stock price: | $2.99 at close June 14
|
| Market capitalization: | $37.67 million
|
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