MicroVision Announces Closing of $18 Million Offering of Common Stock
June 14 2018 - 04:10PM
MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative
ultra-miniature laser display and sensing technology, today
announced the closing of its underwritten public offering of 14.4
million shares of its common stock at a public offering price of
$1.25 per share for gross proceeds of approximately $18 million.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American:LTS), acted as sole
book-running manager and representative of the underwriters of the
offering. H.C. Wainwright & Co. and Northland Capital Markets
acted as co-managers of the offering. Craig-Hallum Capital Group
LLC acted as a financial advisor to MicroVision in connection with
the offering.
MicroVision expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of
approximately $16.6 million from the offering. MicroVision
intends to use the net proceeds for general corporate purposes.
The securities described above were offered by MicroVision
pursuant to its registration statement on Form S-1 (Registration
No. 333-222857), as amended, 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 for mobile
consumer electronics, automotive head-up displays and other
applications. MicroVision’s patented technology is a single
platform that can enable projected displays, image capture and
interaction for a wide array of future-ready products in this
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 and those
statements using words such as “expects” or “intends” 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: 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® display engine 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.
Contacts:
Ted Moreau Darrow Associates, Inc. 608.298.7369
tmoreau@darrowir.com
or
David H. Allen Darrow Associates, Inc. 408.427.4463
dallen@darrowir.com
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