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Microvision (MVIS -22.9%) shares plunge to $2.32 after the company announces its stock offering,...

Microvision (MVIS -22.9%) shares plunge to $2.32 after the company announces its stock offering, disclosed yesterday, will involve 4.2M shares priced at $2.50. The offering, which will yield net proceeds of $9.9M after underwriter fees, stands to boost the cash-strapped company's diluted share count by nearly 25%.
Comments (3)
  • No. 1 Trader
    , contributor
    Comments (50) | Send Message
    What a piece of crap! They are using the funds raised for "general purposes" not ramping up production. So it seems shareholders are supposed to give them yet another check to pay salaries to people who don't produce anything that generates revenue. How Many times can a company do this? How stupid are investors?
    16 Jun 2012, 07:19 AM Reply Like
  • nanamar13
    , contributor
    Comment (1) | Send Message
    I paid $4.48 for 10,000 shares before they split that amount to 1250 shares now trading at $2.50 a share. Any way you look at it I'm down over &45,000. Just how much lower can it go????
    17 Jun 2012, 10:49 PM Reply Like
  • No. 1 Trader
    , contributor
    Comments (50) | Send Message
    It can go to zero if they don't start selling some products and generating money from sales of products they actually produce rather than selling stock. Eventually nobody will buy their stock anymore. I am surprised people have bought the last two offerings. The money will be used for general corporate purposes, which may include, but are not limited to, working capital,capital expenditures, and acquisitions of other technologies There is nothing mentioned about using proceeds for production of anything. So it's seems like investors are throwing good money after bad. Maybe Pioneer or Google will buy the company for the technologies?
    18 Jun 2012, 11:34 AM Reply Like
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