MicroVision enters into $16 Million Common Stock Purchase Agreement with Lincoln Park Capital
Under the terms of the agreement, Lincoln Park will immediately purchase
Lincoln Park has no right to require any sales and is obligated to purchase the common stock as directed by the Company, subject to certain limitations set forth in the agreement. Lincoln Park has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company’s shares of common stock. In consideration for entering into the agreement, the Company has issued 375,000 shares of common stock to Lincoln Park as a commitment fee. No warrants, derivatives, or other share classes are associated with this agreement.
The agreement may be terminated by the Company at any time without any cost or penalty.
A more detailed description of the agreement is set forth in the Company’s Current Report on Form 8-K as filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
LPC is an institutional investor headquartered in
Certain statements contained in this release, including those relating to potential future sales of shares under the announced facility and potential applications and features of
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Source: MicroVision, Inc.