6/20/2012 4:05:54 PM
REDMOND, Wash.–(BUSINESS WIRE)–Jun. 20, 2012–
MicroVision, Inc. (Nasdaq:MVIS), a leader in innovative ultra-miniature
laser display technology, today announced the closing of its public
offering of 4.2 million shares of its common stock and warrants to
purchase 2.1 million shares of its common stock at a price to the public
of $2.50 per share and accompanying warrant. MicroVision received net
proceeds, after deducting the underwriting discount and estimated
offering expenses, of approximately $9.7 million from the offering.
Oppenheimer & Co. Inc. acted as underwriter for the offering.
MicroVision intends to use the net proceeds of the offering for general
The securities described above were offered by MicroVision pursuant to
its registration statement on Form S-3 that was 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 prospectus relating
to the proposed offering, copies of which may be obtained, when
available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus
Department, 85 Broad Street, New York, NY, 10004, by telephone at
212-667-8563, or via email at EquityProspectus@opco.com.
MicroVision provides the PicoP® display technology platform designed to
enable next-generation display capabilities for consumer devices and
vehicle displays. The company’s PicoP display technology uses highly
efficient laser light sources which can create vivid images with high
contrast and brightness.
For more information, visit us on:
Certain statements contained in this release, including those relating
to closing of the offering, and those statements using words such as
“designed to” and “intends” are forward-looking statements that involve
a number of risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements. These
risks and uncertainties include, but are not limited to: capital market
risks; our ability to raise additional capital when needed; 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 our Annual Report on Form 10-K and
Quarterly Report on Form 10-Q 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.
Tiffany Bradford, 425-882-6629 (investors)
Snyder (Edelman), 503-471-6816 (media/PR)