12:45 PM EST, 03/05/2024 (MT Newswires) -- MicroVision ( MVIS ) said Tuesday it has struck a $150 million at-the-market equity offering sales agreement with Deutsche Bank Securities, Mizuho and Craig-Hallum Capital Group as its sales agents.

The company said it may offer shares from time to time as part of the agreement.

MicoVision said it plans to use the proceeds to support investments that may be required to scale production capabilities, accelerate application-specific integrated circuit development, and for general corporate purposes, among others.

The company shares were down more than 5% in recent trading.

Price: 2.11, Change: -0.12, Percent Change: -5.17