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Microvision files for $35 mln stock shelf
Microvision files for $35 mln stock shelfWASHINGTON, Sept 1 (Reuters) - Imaging and displays company Microvision Inc. filed on Thursday to periodically sell up to $35 million in common and preferred stock and warrants.
The Bothell, Washington-based company said in a registration statement with the U.S. Securities and Exchange Commission that it will use the proceeds from the offering for general corporate purposes, including working capital, capital expenditures and acquisitions.
Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.
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So whats the opinion of this?
ReplyDeleteIs this a move to ensure future funding for more development, or is it to move to production for the 'consumer' type products? (HDTV display)
Seth
You can do a lot with $35M in cash.
ReplyDeleteFor me personally, I do not worry that much about dilution. If this company is any kind of success, I will do great. Putting $35M in cash in the bank will allow the company to do what they feel they need to do.
My opinion of this is, I'm happy about it. I want to see MVIS put $35M in the bank. I want to know that MVIS has the resources that it needs to pursue their truly extraordinary market opportunities.
If I get diluted, maybe I'll have $50M instead of $64M when Microvision has a $40B market cap. I could do a lot with that extra $14M -- but it is so much more likely that MVIS will be able to meet their goals if they have cash today.
If this is the last financing round and the company makes its own cash flow going forward then I'd say this is probably a significant step in the right direction.
I see this as a positive. Microvison needs funding as sales increase on existing products and new products are developed. This is an exciting time to be invested in Microvision.
ReplyDelete