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MicroVision Pulls Public Offering; CACI Secures $125.54M Contract

  • June 15th, 2023
  • 246 views

MicroVision, Inc. (Nasdaq: MVIS) has made the decision to withdraw its proposed public offering of common stock, citing market volatility as the determining factor. 

The company's Chief Executive Officer, Sumit Sharma, stated that the withdrawal is aimed at securing the best value for shareholders. While the interest in the MicroVision story was encouraging, the company intends to explore alternative avenues for raising capital that prioritize shareholder value. 

Following the announcement, $MVIS experienced a notable increase of $1.40 (+30.43%), reaching $6.00 in after-hours trading.

CACI Inc. Federal, a subsidiary of CACI International Inc. (NYSE: CACI), has been awarded a significant contract worth $125,535,639. 

The cost-plus-fixed-fee, cost reimbursable indefinite-delivery/indefinite-quantity contract entails a wide range of essential services, including production, integration, logistics, design, analysis, testing, and project management support. These services are aimed at developing crisis response and interoperable command, control, communications, computers, combat electronic systems (CRIC-ES) solutions worldwide. 

Additionally, the contract covers operational support, system modifications, and the development of solutions for multiple customers, including Naval Air Systems Command (NAVAIR) and others. 

The Naval Air Warfare Center Aircraft Division serves as the contracting activity. 

In after-hours, $CACI was trading at $315.54, down $4.38 (-1.37%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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