The offering is an at-the-market agreement with Craig-Hallum Capital Group.
“MicroVision may, from time to time, at its discretion offer and sell shares of its common stock having an aggregate value of up to $140 million through Craig-Hallum,” the company said.
The stock sales “will be made by means of ordinary brokers’ transactions, in negotiated transactions, to or through a market maker other than on an exchange or otherwise," according to the company.
MicroVision recently traded at $17.45, down 10.76%. Secondary share offerings often hurt stocks, because they dilute the ownership of current shareholders. MicroVision has soared 239% in the past six months through Monday.
MicroVision said it intends to deploy the proceeds for general corporate purposes, which may include working capital and capital expenditures.
In other augmented-reality news, Wedbush analyst Ygal Arounian lifted his rating of photography-focused social-media company Snap (SNAP) - Get Report to outperform from neutral in April, based partly on its AR potential.
"We see Snap uniquely positioned as a videocentric platform, with an augmented reality and social commerce opportunity, also centered around a younger, digitally native audience," he wrote.
The Pentagon "awarded Microsoft a fixed price production agreement to manufacture the Integrated Visual Augmentation System (IVAS)," the Pentagon said.
Microsoft will make 120,000 of the headsets, which are based on its HoloLens technology, CNBC and Reuters reported.