MicroVision (MVIS) said Tuesday that it filed a preliminary proxy statement for its July 10 annual shareholder meeting, seeking approval for a proposal that would allow its board to implement a reverse stock split.
Chairman Robert Carlile said the proposed reverse split is intended to help preserve the company's Nasdaq listing, maintain capital flexibility and attract a broader range of investors.
MicroVision's stock fell over 9% during Tuesday's premarket.
Price: 0.54, Change: -0.06, Percent Change: -9.80
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