MicroVision Raises $1.2 Million from the Sale of Common Stock
January 03 2019 - 9:00AM
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 $0.60 per share to Shehnee Lawrence-Farhi in a
registered direct offering for gross proceeds of $1.2 million.
MicroVision intends to use the net proceeds for general corporate
purposes.
The securities described above are being offered by MicroVision
pursuant to its registration statement on Form S-3 (Registration
No. 333-228113) 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 sensing and projection solution based on the laser
beam scanning methodology pioneered by the company. MicroVision’s
platform approach for this sensing and display solution means that
its technology can be adapted to a wide array of applications and
form factors. We combine our hardware, software, and algorithms to
unlock value for our customers by providing them a differentiated
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, Washington.
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
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 our 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; market
acceptance of our technologies and products, and for products
incorporating our technologies; the failure of our commercial
partners to perform as expected under our agreements; our ability
to identify parties interested in paying any amounts or amounts we
deem desirable for the purchase or license of intellectual property
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 and to develop partnership opportunities; 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. These factors are not intended to represent a
complete list of the general or specific factors that may affect
us. It should be recognized that other factors, including general
economic factors and business strategies, may be significant, now
or in the future, and the factors set forth in this release may
affect us to a greater extent than indicated. 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.
Contact:Ted Moreau Darrow
Associates, Inc. 608.298.7369 tmoreau@darrowir.com
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