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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT (DATE OF EARLIEST EVENT REPORTED) November 14, 2023
MicroVision,
Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-34170 |
|
91-1600822 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification
No.) |
18390
NE 68th Street
Redmond,
Washington 98052
(Address
of principal executive offices) (Zip code)
(425)
936-6847
Registrant’s
telephone number, including area code
Not
Applicable
(Former
name or former address if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
|
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
symbol(s) |
|
Name
of each exchange on which registered |
Common
stock, par value $0.001 per share |
|
MVIS |
|
The
NASDAQ Stock Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01. Other Events.
On
November 14, 2023, MicroVision, Inc. (the “Company”) issued a press release announcing the sale of its common stock for approximately
$100,000 in the aggregate to certain members of the Company’s board of directors and its executive officers.
A
copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by
reference.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits.
Pursuant
to the rules and regulations of the SEC, the attached exhibit is deemed to have been furnished to, but not filed with, the SEC.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
MICROVISION,
INC. |
|
|
|
|
By: |
/s/
Drew G. Markham |
|
|
Drew
G. Markham |
|
|
Vice
President, General Counsel and Secretary |
Dated:
November 14, 2023
Exhibit
99.1
MicroVision
Directors and Executive Team to Purchase Shares
REDMOND,
Wash. – November 14, 2023 – MicroVision, Inc. (Nasdaq: MVIS), a leader in MEMS-based solid-state automotive lidar
technology and ADAS solutions, today announced its executive management team and several members of its Board of Directors have
entered into private placement agreements to purchase shares of the Company’s common stock. Pursuant to the agreements, the
purchasers will acquire an aggregate of approximately $100,000 of MicroVision’s common stock at $1.97 per share,
yesterday’s closing price as reported on The Nasdaq Stock Market.
“As
the independent Chair of the Board, I have great confidence in MicroVision’s management team and the Company’s business strategy,”
stated Mr. Robert Carlile. “I believe MicroVision has a promising future ahead.”
“These
share purchases by members of the Board of Directors and the executive team reflect our collective optimism toward accomplishing our
strategic and operational goals for MicroVision and our continued commitment to building and achieving long-term value for our stockholders,”
said Sumit Sharma, the Company’s Chief Executive Officer. “We thank our stockholders for their support and belief in what
we are building here at MicroVision.”
About
MicroVision
With
over 350 employees and global presence in Redmond, Detroit, Hamburg, and Nuremberg, MicroVision is a pioneering company in MEMS-based
laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary
technology to address existing and emerging markets. The Company’s integrated approach uses its proprietary technology to provide automotive
lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart
infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive
display modules, and consumer lidar modules.
MicroVision,
MAVIN, MOSAIK, and MOVIA 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 statements about the Company’s business strategy and future prospects, as well
as the likelihood of accomplishing strategic and operational goals and building and achieving long-term value for MicroVision stockholders,
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 our forward-looking
statements include the following: our ability to operate with limited cash or to raise additional capital when needed; market acceptance
of our technologies and products or 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; our ability to maintain our listing on The Nasdaq Stock Market, and other
risk factors identified from time to time in our SEC reports, including our Annual Report on Form 10-K, our Quarterly Reports on Form
10-Q and other reports 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.
Investor
Relations Contact:
Jeff
Christensen
Darrow
Associates Investor Relations
MVIS@darrowir.com
Media
Contact:
Robyn
Komachi
Marketing@MicroVision.com
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