MicroVision Terminating At-The-Market Facility
June 13 2017 - 04:16PM
Business Wire
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature projection display and sensing technology, today
announced that it is terminating an At-The Market facility it has
in place with IFS Securities, Inc.
On June 12, 2017, MicroVision delivered a notice of termination
under the At-The-Market Sales Issuance Agreement dated May 1, 2017
between MicroVision and IFS Securities, Inc. (doing business as
Brinson Patrick, a division of IFS Securities, Inc.) as sales
agent. The Sales Agreement is terminable without penalty at
MicroVision’s election. Pursuant to the terms of the Sales
Agreement, termination of the Sales Agreement will be effective on
June 17, 2017. The Sales Agreement entitled MicroVision to issue
and sell, from time to time, up to an aggregate of $5 million in
shares of its common stock, par value $0.001 per share, through
Brinson Patrick.
As a result of the termination of the Sales Agreement, there
will be no further sales of common stock thereunder.
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.
For more information, visit the company’s website at
www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc
or follow MicroVision on Twitter at @MicroVision.
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 future product and product applications, are
forward-looking statements that involve a number of risks and
uncertainties. Factors that could cause actual results to differ
materially from those projected in the company’s forward-looking
statements include the following: 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 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170613006394/en/
MicroVision, Inc.Investors:Dawn Goetter,
425-882-6629ir@microvision.comorMedia:Heather Hewit,
732-212-0823heatherh@lotus823.com
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