MicroVision Secures $5M Investment
Projection display maker Micro-Vision Inc. of Redmond, Wash., has received a $5 million equity investment from private investors. The deal was expected to close by May 29. The investors had agreed to purchase 3.4 million shares of MicroVision’s common stock at $1.49 a share and warrants to purchase a total of 1 million shares of the company’s common stock at a price of $2.12 a share, exercisable until three years from issuance. Shmuel Farhi, the lead investor and sole owner of Farhi Holdings Inc., said that MicroVision is well positioned to take advantage of the emerging pico projection market.