11/16/2011 11:00:23 AM
REDMOND, Wash.–(BUSINESS WIRE)–Nov. 16, 2011–
MicroVision, Inc. (NASDAQ: MVIS) today announced the closing of
its public offering of 17,948,716 shares of its common stock and
warrants to purchase 8,974,358 shares of its common stock at a price to
the public of $0.585 per share and accompanying warrant, as well as
warrants to purchase 1,251,092 additional shares sold upon exercise by
the underwriter of its over-allotment option. MicroVision received net
proceeds, after deducting the underwriting discount and estimated
offering expenses, of approximately $9.8 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, 300 Madison Avenue, 4th Floor, New York, NY, 10017, 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 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 that 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
“expects”, “intends”, “plans”, “should”, “would”, “will” and “believe”
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, our ability to successfully complete
the offering on terms and conditions satisfactory to us and 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, as
well as other risks and uncertainties, including those detailed from
time to time in our SEC filings, including our Annual Report on Form
10-K and Quarterly Report on Form 10-Q. 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.
Investor and Media Relations: