November 20, 2009 (FinancialWire) Microvision, Inc. (NASDAQ: MVIS), firm engaged in light scanning technologies, has priced an underwritten public offering of 6.7 million shares of its common stock at a price to the public of $3.00 per share.
Oppenheimer & Co. (NYSE: OPY) and Thomas Weisel Partners (NASDAQ: TWPG) are the joint bookrunning managers.
Microvision has granted the underwriters a 30-day option to purchase up to an additional 1.0 million shares of its common stock to cover over-allotments, if any.
The company plans to receive net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $18.7 million from the offering, or $21.5 million if the underwriters exercise their over-allotment option in full.
Microvision plans to use the net proceeds of the offering for general corporate purposes, including, but not limited to, working capital and capital expenditures.
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