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$Microvision (MVIS.US)$ MicroVision Strengthens Financial Position, Securing $75 Million in Capital Commitments
Accesswire· 1 min ago
REDMOND, WA / ACCESSWIRE / October 15, 2024 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced that it has strengthened its financial position by closing on a two-year $75 million senior secured convertible note facility with High Trail Capital.
"We are excited to announce this financing, which comes at an ideal time for MicroVision as we work toward securing additional revenue opportunities for 2025 and beyond with our integrated lidar hardware and software solution by advancing potential partnerships with multiple leading industrial customers in the heavy equipment segment," said Sumit Sharma, Chief Executive Officer. "This is a very exciting time as we gear up to start a new chapter at MicroVision and focus on volume ramp of our industrial MOVIA L technology solution. We appreciate this opportunity to secure funding and build a relationship with High Trail as a strong financial partner."
Accesswire· 1 min ago
REDMOND, WA / ACCESSWIRE / October 15, 2024 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced that it has strengthened its financial position by closing on a two-year $75 million senior secured convertible note facility with High Trail Capital.
"We are excited to announce this financing, which comes at an ideal time for MicroVision as we work toward securing additional revenue opportunities for 2025 and beyond with our integrated lidar hardware and software solution by advancing potential partnerships with multiple leading industrial customers in the heavy equipment segment," said Sumit Sharma, Chief Executive Officer. "This is a very exciting time as we gear up to start a new chapter at MicroVision and focus on volume ramp of our industrial MOVIA L technology solution. We appreciate this opportunity to secure funding and build a relationship with High Trail as a strong financial partner."
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