Microvision in deal to sell up to $60M in shares to Azimuth Opportunity over 2 years

Microvision in deal to sell up to $60M in shares

REDMOND, Wash. — Wearable display maker Microvision Inc. said Tuesday that has a committed equity financing facility through which it can sell as much as $60 million worth of shares to Azimuth Opportunity Ltd. in the next two years.

Microvision said that it can’t issue over 17.8 million shares through the facility, which would be less than 20 percent of its stock outstanding as of Tuesday.

Microvision said it issued 64,377 shares of stock to Azimuth and gave the company $150,000 in cash for the purchase agreement.

Microvision shares fell 5 cents to $2.26 in after-hours trading, having finished regular trading up a penny at $2.31.