Boston, MA 03/14/2014 (wallstreetpr) – Microvision, Inc. (NASDAQ:MVIS) is a provider of innovative laser display technology that is used in projectors, smartphones, tablets and many more devices. The company has announced the offering of units which consists of warrants and share of common stock. Earlier in the week the company also issued a press release that it had regained compliance with listing rules at NASDAQ.
We take a closer look at these latest developments and what they mean to you – the investor. However, here is a recap of how the ticker performed in the last session. Shares of Microvision, Inc. (NASDAQ:MVIS) were last seen trading at $2.20, up 2.33 percent. The shares had earlier in the day been changing hands between $1.95 and $2.20. Over the past 12 months, shares of the $78.76 million market capped company have been traded at $1.03 to $3.49.
Units offering
Microvision, Inc. (NASDAQ:MVIS) announced Thursday in a press release that it was seeking to raise proceeds of about $13.9 million by offering more than 7.1 units. The said units are priced at $1.94 each and they consist of one share of the common stock and one warrant to acquire 0.3 shares of the common stock at $2.47 per share. After deducting discounts and expenses related to the offering, the company hopes to retain $13.1 million in net proceeds, of which it said will be put into various corporate general purpose.
Compliance with NASDAQ
In a press release coming earlier in the week, Microvision, Inc. (NASDAQ:MVIS) announced that it received a letter from NASDAQ that it had regained listing compliance on the capital market as of March 6. That was a big reprieve as the stock was under threat of delisting if it failed to meet the listing requirements.
Bottom line
Microvision, Inc. (NASDAQ:MVIS) has been able to get over many of its challenges, as the stock can be seen gaining strongly. Looking at the most recent quarter results, it suggests that the company’s performance is improving. The announcement which came February that Sony Corporation (ADR) (NYSE:SNE) was adopting Microvision technology in its upcoming projectors also adds to the good news around the ticker. All said and done, this stock offers opportunity to earn good profits from investment.
