MicroVision Raises $2.14 Million From the Sale of Common Stock
December 21 2016 - 05:08PM
Business Wire
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature laser display and sensing technology, today
announced the sale of two million shares of its common stock at a
price of $1.07 per share to Ben Lawrence-Farhi in a registered
direct offering for gross proceeds of $2.14 million.
MicroVision intends to use the net proceeds for general
corporate purposes. Farhi had indicated his interest in
participating in the company’s recently completed underwritten
public offering of shares of company common stock at a price to the
public of $1.07 per share, but was unable to do so due to
logistical reasons.
The securities described above are being offered by MicroVision
pursuant to its registration statement on Form S-3 (Registration
No. 333-211869) previously filed and declared effective by the
Securities and Exchange Commission (SEC). This press release does
not constitute an offer to sell or a solicitation of an offer to
buy the securities in the offering, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About MicroVision
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature laser projection and sensing solution based on the
laser beam scanning methodology pioneered by the company.
MicroVision’s platform approach for this advanced display and
sensing solution means that it can be adapted to a wide array of
applications and form factors. It is an advanced solution for a
rapidly evolving, always-on world. Extensive research has led
MicroVision to become an independently recognized leader in the
development of intellectual property. MicroVision’s IP portfolio
has been recognized by the Patent Board as a top 50 IP portfolio
among global industrial companies and has been included in the
Ocean Tomo 300 Patent Index. The company is based in Redmond,
Wash.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the
United States and other countries. All other trademarks are the
properties of their respective owners.
Forward-looking Statements
Certain statements contained in this release, including those
relating to closing of the offering, and those statements using
words such as “expects” and “intends” are forward-looking
statements that involve a number of risks and uncertainties that
could cause actual results to differ materially from those
projected in the company’s forward-looking statements. These risks
and uncertainties include, but are not limited to: the possible
adverse impact on the market price of our shares of common stock
due to the dilutive effect of the securities to be sold in the
offering; capital market risks; our ability to raise additional
capital when needed; products incorporating our PicoP® scanning
technology may not achieve market acceptance, commercial partners
may not perform under agreements as anticipated, we may be
unsuccessful in identifying parties interested in paying any
amounts or amounts we deem desirable for the purchase of products
or license of IP assets, our or our customers’ failure to perform
under open purchase orders; our financial and technical resources
relative to those of our competitors; our ability to keep up with
rapid technological change; government regulation of our
technologies; our ability to enforce our intellectual property
rights and protect our proprietary technologies; the ability to
obtain additional contract awards; the timing of commercial product
launches and delays in product development; the ability to achieve
key technical milestones in key products; dependence on third
parties to develop, manufacture, sell and market our products;
potential product liability claims; and other risk factors
identified from time to time in the company’s SEC reports,
including the company’s Annual Report on Form 10-K filed with the
SEC. Except as expressly required by federal securities laws, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, changes in circumstances or any other reason.
Additional Information
Additional information relating to MicroVision can be found on
EDGAR at www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20161221005933/en/
MicroVisionInvestors:Dawn Goetter,
425-882-6629ir@microvision.comorMedia:Nicole Cobuzio, 732-212-0823
ext. 102nicolec@lotus823.com
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