OLED Microdisplay-maker eMagin announced that it entered into an early warrant exercise transaction with certain of its warrants holders, to raise about $4.5 million.
An eMagin OLED microdisplay
Some of these funds will go towards the company's growth initiatives with consumer AR/VR - and to finance the company's two consumer products that are set to launch in Q4 2016.
Earlier this month, eMagin announced that it will launch two high-performance consumer products under the eMagin brand in Q4 2016 - one wearable and one a handheld device. eMagin believes these two products can be a significant opportunity for the company. The two products will adopt eMagin's OLED Microdisplays, of course.
At the end of the last quarter, eMagin had about $6.1 million of cash and equivalents (down from $9.3 in the end of Q4 2015).
Disclosure: the author of this post holds shares in eMagin
Comments
You are right of course, my mistake!
eMagin had $6.1 m in cash & equivalents at the end of 2Q not $9.1 m .
I assume that's why they incentivized the warrant holders to exercise them .