MicroVision skids on planned share offering

Microvision

14/06/2023 14:02

** Shares of MicroVision Inc  MVIS.O  down 10.5% at $5.71
premarket as automotive lidar sensor firm seeks equity raise
    ** Co late Tues said intends to sell $75 mln of shares
    ** Co plans to use net offering proceeds for general corp
purposes
    ** UBS acting as lead bookrunner for offering expected to
price Weds after markets close
    ** Co has ~176.5 mln shares outstanding, per Refinitiv data
    ** Through Tues close, MVIS has surged about 150% over the
past month. Shares traded as high as $28 in Apr 2021 when they
were swept up in retail "meme" trading frenzy
    ** Short interest in MVIS stood at 27% of float as of May
31, per Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))