Microvision announced today that they raised $5 million from private investors. The lead investor is a Canadian based real estate developer (Shmuel Farhi, from Farhi Holdings). The investors bought 3.34 million shares at a price of $1.494 per share and warrants to purchase 1 million shares at $2.12.Just a couple of weeks ago Microvision announced their financial results, and the company's cash decreased by $6.2 million in the quarter to $6.8 million. It's good that the company found a solution to its cash issues, even if this may prove to be quite short term.
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