Shares of MicroVision, Inc. (MVIS) are rising more than 6% in pre-market trade on Friday at $4.14.
Thursday MicroVision said it has completed the at-the-market equity facility (follow-on offering of securities) it has entered with Craig-Hallum Capital Group LLC on June 16 to sell up to $45 million of its shares through Craig-Hallum, as sales agent.
The company intends to use proceeds from the ATM for general corporate purposes, working capital, and capital expenditures.
MicroVision develops and sells lidar sensors used in automotive safety and autonomous driving applications.
Including the net proceeds from the ATM, the company now has about $95 million in cash and cash equivalents, along with investment securities, it said in a statement.
On Thursday, MVIS closed at $3.90, up 7.73%. It has traded in the range of $1.82 – 8.20 in the last 52 weeks.
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