MicroVision announced today that we closed an underwritten public offering of 4,058,823 shares of our common stock at a public offering price of $1.70 per share, for gross proceeds of approximately $6.9 million. We expect to receive net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $6.2 million. We intend to use the net proceeds for general corporate purposes.
As we have discussed in the past, from time to time we evaluate financing opportunities that will enable us to continue working towards our business goals. Coming off of a strong growth year in 2015, we believe that this was a good time to pursue a financing opportunity.
We strongly believe we have a terrific opportunity ahead of us and plan to cntinue working hard on executing our business plan, leveraging our PicoP® scanning technology to enable future-ready applications.