Microvision (MVIS) to Sell Shares to Investor at $3 each

Wearable display maker Microvision Inc. (NASDAQ: MVIS) said it would sell 3.3m shares to an existing institutional investor for $3 apiece The company expects to net $9.3m from the offering. It intends to use the proceeds from the offering for general corporate purposes and capital expenditures. Microvision said it closed on an earlier public offer of 7.7m shares for net proceeds of about $21.5m. Shares in Microvision fell 16 cents, or 4.5%, to $3.42. Microvision, Inc. (MVIS) is a developer of miniature display and imaging engines based upon its integrated photonics module (IPM) technology platform. The Company’s technology platform combines two dimensional Micro-Electrical Mechanical system (MEMS) light scanning technologies, lasers, optics, electronics, and its system controls expertise into compact display or imaging solutions that will lead to new applications and products in the consumer and automotive markets.