Form 8-K - Current report
December 21 2023 - 4:15PM
Edgar (US Regulatory)
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2023-12-15
2023-12-15
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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) December 15, 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) |
|
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☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
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☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
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|
☐ |
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
1.01. Entry into a Material Definitive Agreement.
On
December 15, 2023, MicroVision GmbH (the “Subsidiary Company”), a wholly-owned subsidiary of MicroVision, Inc., entered into
a Lease Agreement Concerning Office Premises (the “Lease”) with Victoria Immo Properties I S.à r.l. (the “Landlord”),
pursuant to which the Subsidiary Company will lease approximately 5,500 square meters (or approximately 60,000 square feet) of space
located in Hamburg, Germany (the “Premises”) that it will use primarily for general office space and product testing.
The
Lease provides for an initial term of five years (the “Term”) commencing on the date the Premises are delivered to the Subsidiary
Company, which is expected to occur between August 1, 2024 and December 31, 2024. In connection with the execution of the Lease, the
Subsidiary Company will provide the Landlord a security deposit of approximately $1 million.
Pursuant
to the Lease, for the first year of the Term the monthly base rent will be approximately $117,000. For each subsequent year, the base
rent is subject to an annual market rate adjustment. In addition to the monthly base rent, the Subsidiary Company will pay additional
rent comprised of certain operating, management, and ancillary expenses, subject to certain terms and limitations set forth in the Lease,
and applicable taxes. The Subsidiary Company has the option to extend the Term for the Premises two times, each for a three-year period.
The
Premises are intended to replace the office space currently being rented by the Subsidiary Company upon expiration of the leases associated
with those properties. A description of the Subsidiary Company’s existing lease arrangements can be found in MicroVision,
Inc.’s Quarterly Report on Form 10-Q filed on November 9, 2023.
The
foregoing description of the Lease is a summary, is not complete, and is qualified in its entirety by the terms and conditions of the
actual Lease, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December
31, 2023.
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:
December 21, 2023
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