Northern, WI 05/21/2013 (usmarketsdaily) - The share prices of Microvision Inc. (NASDAQ:MVIS) surged by 10.94 percent to close at $2.94 per share. The company is involved in the development of high resolution miniature laser display and imaging engines based on PicoP display engine technology. The major focus of Microvision Inc. (NASDAQ:MVIS) is to provide the users of smart phones, media devices and tablet personal computers with an experience of large screen display through small embedded projector.
The industry leader in innovative ultra wire display technology, Microvision Inc. (NASDAQ:MVIS) had recently announced the issue of $5.85 million of common stock and warrants. The price per share for the common stock was determined based on the bidding for the offer which was closed in the NASDAQ stock exchange on May 16, 2013. On the other hand, the warrants were priced at $2.886 per share. The warrants are provided with the possibility for encashment when the price of common stock touches the specified limits in the warrants.
Microvision Inc. (NASDAQ:MVIS) plans to use the proceedings from the issue of the common stock and warrants for further development of its display technology so as to ensure better display experience to the users. The company had been continually working on the development of its brand PicoP display technology which enables the users to have big screen display experience on their smart phones, tablets and other similar devices. Microvision Inc. (NASDAQ:MVIS) would further work to enhance the quality of display on such handheld devices for personal computing through its ingredient brand licensing strategy.
