MicroVision, the maker of MEMS-based solid-state automotive lidar technology and ADAS solutions, announced that, due to market volatility, it has withdrawn its proposed public offering of shares of its common stock.
“In the interest of achieving the best value for our shareholders, we have decided to withdraw our previously announced public offering of common stock,” said Sumit Sharma, Chief Executive Officer. “We were pleased with the interest shown in the MicroVision story but given the market volatility and recent stock price performance, we intend to explore other capital raising opportunities with a focus on shareholder value. We appreciate the continued support of our shareholder base as shown at our Annual Meeting of Shareholders last month.”
