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MicroVision Down 10% After $140 Million At-The-Market Offering

·1 min read

By Dhirendra Tripathi

Investing.com – Microvision 's (NASDAQ:MVIS) market cap was down by a tenth in Tuesday’s premarket trading on news of the company’s $140-million at-the-market offering.

MicroVision, which develops laser scanning technology for projection, 3D sensing and image capture, said in a filing late on Monday it will sell shares of its common stock "from time to time" through brokerage Craig-Hallum.

The company intends to use the net proceeds for general corporate purposes including working capital and capital expenditures.

As with any such offering, the extra shares will dilute earnings for the existing shareholders.

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