11/27/2009 9:01:00 AM
<![CDATA[REDMOND, Wash., Nov 27, 2009 (BUSINESS WIRE) — Microvision, Inc. (NASDAQ: MVIS), a global leader in light
scanning technologies, today announced the pricing of an underwritten
public offering of approximately 3.3 million shares of its common stock
to a single current institutional shareholder at a price of $3.00 per
share. Microvision expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of approximately
$9.3 million from the offering. Oppenheimer & Co. Inc. is the sole
book-running manager and Craig Hallum Capital Group LLC is acting as
co-manager for the offering. The offering is expected to close on
December 2, 2009, subject to customary closing conditions.
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 a registration statement 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).
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those relating
to closing of the offering, as well as statements containing words like
“intends,” and other similar expressions, are forward-looking statements
that involve a number of risks and uncertainties. All such
forward-looking statements are subject to certain 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, 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 Securities and Exchange Commission filings.
SOURCE: Microvision, Inc.
Matt Nichols (media), 425-882-6657
Tiffany Bradford (investors), 425-882-6629