11/24/2009 10:33:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–Nov. 24, 2009–
Microvision, Inc. (NASDAQ: MVIS), a global leader in light
scanning technologies, today announced the closing of its public
offering of 7,705,000 shares of its common stock at a price to the
public of $3.00 per share, which includes 1,005,000 shares sold upon
exercise by the underwriters of their option to purchase additional
shares. Microvision received net proceeds, after deducting the
underwriting discount and estimated offering expenses, of approximately
$21.5 million from the offering. Oppenheimer & Co. Inc. and Thomas
Weisel Partners LLC are the joint book-running managers and Craig Hallum
Capital Group LLC is acting as co-manager for the offering.
Microvision intends to use the net proceeds of the offering for general
corporate purposes, including, but not limited to, working capital and
The securities described above are being offered by Microvision pursuant
to registration statements on Form S-3 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. The offering may be made
only by means of the prospectus supplement and the related prospectus
relating to the proposed offering, copies of which may be obtained, when
available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus
Department, 300 Madison Avenue, 4th Floor, New York, NY, 10017, by
telephone at (212) 667-8563, or via email at EquityProspectus@opco.com.
About Microvision, Inc.
Microvision provides the PicoP display technology platform designed to
enable next-generation display and imaging products for pico projectors,
vehicle displays, and wearable displays that interface with mobile
devices. The company’s projection display engine uses highly efficient
laser light sources which can create vivid images with high contrast and
brightness. For more information, visit the company’s website (www.microvision.com).
Source: Microvision, Inc.
Matt Nichols (media), 425-882-6657
Decker (investors), 212-564-4700