Microvision

$26 million registered direct offering

• Microvision (NasdaqGM: MVIS) develops compact, low power, high-resolution displays and imaging systems based on silicon micro-mirror technology.
• Priced 11.2 million shares of common stock and warrants to purchase 6.7 million shares at a price of $2.33 per unit, a 12.5% discount to the 10-day volume weighted average closing bid price.
• Raised gross proceeds of $26.0 million with 6 investors, 5 of whom were new to the stock (Highland Capital, Special Situations, Stark Investments, Heights Capital, Invus Group and Gruber & McBaine).
• In very difficult equity market conditions, we raised a significant amount of capital for this micro-cap, pre-commercial revenue development stage company.