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MicroVision dilutes -6

MicroVision has announced an agreement with Lincoln Park Capital to sell up to $17.025M in stock.  The agreement specifies a $2M sale at $1.50, which the market has initially taken as a positive, but this is essentially an ATM (at the market) agreement.  We've seen the same sort of thing, with this exact same company by Ocata (then Advanced Cell Technology) and it's not good.  Even at $1.50, this would represent over 20% dilution.  Those who think this doesn't matter should look over the entire history of Ocata, as summarized here.