Light scanning technologies company Microvision (NASDAQ:MVIS) priced an overnight offering of 6.7 million common shares, at 3 dollars each. The company said net proceeds will be used for working capital, capital expenditures, and other general corporate purposes. Oppenheimer (NYSE:OPY) and Thomas Weisel Partners (TWPG) are the joint book-running managers for the offering. Microvision shares tumbed more than 20% in Thursday trading.
Navios Maritime Partners (NYSE:NMM) priced an overnight offering of 4 million common units, at 14 dollars and 19 cents each. The company said it plans to use the proceeds in part to fund its fleet expansion. Citi (NYSE:C) and J.P. Morgan (NYSE:JPM) are the joint book-running managers for the offering. Shares of Navios Maritime Partners fell nearly 9%.
And shares of Manulife Financial Corporation (NYSE:MFC) fell about 7 and three quarters percent, after the company announced it will raise 2.5 billion dollars in a common equity bought deal arranged by Scotia Capital and RBC Dominion Securities. Manulife Financial said its capital position is now fortified to the "fortress level" and on a pro-forma basis would put the ratio of minimum continuing capital and surplus requirements at a company record of 256%.
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