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Microvision plans to raise money in a public stock offering
Update: Microvision will sell 4.2 million units for $2.5 per unit, and each unit consists of one share of common stock and one warrant to purchase 0.5 shares of common stock at $2.65 per share. Microvision will get about $9.9 million from the stock offer.
A month after Microvision secured $5 million from private investors, the company announced it intends to offer to sell shares of its common stock and warrants in an underwritten public offering. Oppenheimer will act as underwriter in the offering.
According to Microvision’s latest financial results, the company had only $6.8 million in cash (plus the $5 million they raised) last quarter. The burn rate is around $6 million in a quarter so they need to raise some more cash obviously.
Read more at Pico Projector Info
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