Tuesday, August 17, 2010

Microvision Gets Committment For $60M In Equity Funding

Redmond-based Microvision, a developer of pico-projection technology, said late Tuesday that it has received an equity financing commitment to raise up to $60M in sales of its common stock, to Azimuth Opportunity Ltd. The firm said the 24-month deal allows it to sell the shares to Azimuth as needed, but that it is not obligated to use the facility. Publicly held Microvision said it will use the funding for its commercialization and growth strategy.