8/15/2017 5:00:22 PM
REDMOND, Wash.–(BUSINESS WIRE)–Aug. 15, 2017–
Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature laser
display and sensing technology, today announced the closing of its
underwritten public offering of 5,476,191 shares of its common stock,
which includes the exercise in full of the underwriter’s option to
purchase up to an additional 714,286 shares, at a public offering price
of $2.10 per share for gross proceeds of approximately $11.5 million.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE American: LTS), acted as the sole
underwriter of the offering.
MicroVision expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of approximately
$10.6 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-3 (Registration No. 333-211869)
(including a related registration statement filed pursuant to Rule
462(b) under the Securities Act of 1933), 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. The offering was made by means
of the prospectus supplement and the accompanying prospectus relating to
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.
MicroVision’s business model and product line offering includes display
and sensing engines, licensing its patented technology and selling
components to licensees for incorporation into their scanning engines.
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
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.
Certain statements contained in this release, including those relating
to closing of the offering, 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 relating to MicroVision can be found on EDGAR at www.sec.gov.
Source: MicroVision, Inc.