07:19 AM EDT, 10/15/2024 (MT Newswires) -- MicroVision ( MVIS ) said Tuesday that it closed a two-year $75 million senior secured convertible note facility with High Trail Capital.

Under the securities purchase agreement, the company will sell $45 million in senior secured convertible notes and have a conditional option to sell up to an additional $30 million of the notes at subsequent closings.

The notes were issued with an 8% discount, generally convertible to common stock at $1.596 per share, and will mature on Oct. 1, 2026.

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