Microvision (MVIS) Announces $17M Stock Purchase Agreement Lincoln Park Capital Fund
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall St. slips on earnings; Apple results due
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
MicroVision, Inc. (Nasdaq: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that it has entered into an agreement with Lincoln Park Capital Fund, LLC ("Lincoln Park"), an institutional investor based in Chicago, Illinois, under which the Company has the right to sell up to $17.025 million of common stock to Lincoln Park. Proceeds from any sales of stock will be used for general corporate purposes.
Under the terms of the agreement, Lincoln Park will immediately purchase $2.025 million in shares of common stock at a purchase price of $1.50. In addition, for a period of 24 months, the Company has the right, at its sole discretion, to sell up to $15.0 million of additional common stock to Lincoln Park, subject to certain limitations, based on the prevailing market prices of the Company’s shares at the time of each sale.
Lincoln Park has no right to require any sales and is obligated to purchase the common stock as directed by the Company, subject to certain limitations set forth in the agreement. Lincoln Park has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company’s shares of common stock. In consideration for entering into the agreement, the Company has issued 522,556 shares of common stock to Lincoln Park as a commitment fee. No warrants, derivatives, or other share classes are associated with this agreement.
The agreement may be terminated by the Company at any time without any cost or penalty.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- OncoGenex Pharma (OGXI) Announces Strong Survival Data from Apatorsen Phase 2 in MBC
- Rhône Enters Agreement o Acquire Zodiac from Carlyle Group (CG)
- Tonix Pharmaceuticals (TNXP) Plans Offering of Common Stock and Warrants
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, Hot Corp. News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!