MicroVision, Inc. announced on December 21, 2016 the sale of two million shares of its common stock at a price of $1.07 per share to Ben Lawrence-Farhi in a registered direct offering for gross proceeds of $2.14 million. MicroVision intends to use the net proceeds for general corporate purposes.
Earlier this month on December 9, 2016, MicroVision, Inc. announced the pricing of an underwritten public offering of 12,149,533 shares of its common stock at a public offering price of $1.07 per share, for gross proceeds of approximately $13 million. Farhi had indicated his interest in participating in this underwritten public offering, but was unable to do so due to logistical reasons.
This offering closed on December 14, 2016 at $13 million in gross proceeds. MicroVision expects to receive approximately $11.8 million in net proceeds from the offering after deducting the underwriting discount and estimated offering expenses, and intends to use it for general corporate purposes as well.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS) acted as the sole underwriter for the offering. MicroVision granted the underwriter a 30-day option to purchase up to an additional 1,822,430 shares of common stock to cover over-allotments, if any. The over-allotment was not exercised at the time of closing, but Ladenburg Thalmann & Co. Inc has until January 8, 2017 to exercise that option.
Additional information relating to MicroVision can be found on EDGAR at www.sec.gov.
The securities described above are being offered by MicroVision pursuant to its registration statement on Form S-3 (Registration No. 333-211869) previously filed and declared effective by the Securities and Exchange Commission (SEC). This blog post does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.