Benzinga | Feb 16, 2021 04:34PM EST

MicroVision Announces $50M At-The-Market Equity Facility

REDMOND, Wash., Feb. 16, 2021 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS based solid state automotive lidar and micro-display technology for augmented reality, today announced it entered into a $50 million At-the-Market (ATM) equity offering agreement with Craig-Hallum Capital Group LLC (Craig-Hallum).



Under the agreement MicroVision may, from time to time, at its discretion offer and sell shares of its common stock having an aggregate value of up to $50 million through Craig-Hallum. MicroVision intends to use the net proceeds from the ATM, if any, for general corporate purposes, which may include, but are not limited to, working capital and capital expenditures as MicroVision pursues a potential strategic transaction.