Microvision Raises $12.375 Million

Microvision, Inc

announced today that it has raised $12.375 million pursuant to a previously announced equity financing facility with Azimuth Opportunity, Ltd. Microvision issued 6,277,275 shares of its common stock to Azimuth for an aggregate purchase price of $12,500,000. Microvision received proceeds from the sale of these shares of approximately $12,375,000 after deducting a placement agent fee of $125,000 paid to Reedland Capital Partners. Microvision intends to use the net proceeds of the offering for general corporate purposes, including, but not limited to, working capital and capital expenditures. Shares of MVIS closed Monday at $2.15