Stock in News Spotlight: MicroVision (NASDAQ:MVIS)

MicroVision (NASDAQ:MVIS) stock experienced trading -48.58% off 52-week high price. On the other end, the stock has been noted 36.69% away from low price over the last 52-weeks. The stock disclosed a move of -0.69% away from 50 day moving average and -5.04% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.90% off 20-day moving average. It has market cap of $90.53M.

On Dec. 27, 2019, MicroVision (NASDAQ:MVIS) a leader in innovative ultra-miniature projection display and sensing technology, released that it has entered into an agreement with Lincoln Park Capital Fund, LLC (Lincoln Park), an institutional investor based in Chicago, Illinois, under which the Company has the right to sell up to $16 million of common stock to Lincoln Park. Proceeds from any sales of stock will be used for general corporate purposes.

Under the terms of the agreement, Lincoln Park will immediately purchase $1 million in shares of common stock at a purchase price of $0.6531. In addition, for a period of 24 months, the Company has the right, at its sole discretion, to sell up to $15 million of additional common stock to Lincoln Park, subject to certain limitations, based on the prevailing market prices of the Company’s shares at the time of each sale.

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 USA based company MicroVision moved with change of -0.01% to $0.74 with the total traded volume of 265136 shares in recent session versus to an average volume of 567.04K. The stock was observed in the 5 days activity at 6.19%. The one month performance of stock was -13.46%. MVIS’s shares are at 25.51% for the quarter and driving a 23.32% return over the course of the past year and is now at 22.52% since this point in 2018.  Right now the stock beta is 0.59. The average volatility for the week and month was at 7.62% and 7.49% respectively. There are 122.35M shares outstanding and 117.36M shares are floated in market.

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