11/3/2003 6:31:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–Nov. 3, 2003–Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies, today
announced that it has completed an offering of 3,560,000 shares of
registered common stock at $6.25 per share. The stock was offered
pursuant to existing shelf registration statements. Participants
include both new and existing shareholders. C.E. Unterberg, Towbin
acted as selling agent for the offering.
“We are pleased to have completed this sizeable offering with a
number of high quality institutional investors,” said Microvision CEO
Rick Rutkowski. “We are happy to add additional capital that
strengthens our balance sheet and enables us to continue to pursue the
significant market opportunities we see for Microvision.”
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any state or foreign jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or foreign jurisdiction. The offering of common stock may be
made only by means of a prospectus, a copy of which will be available
from C.E. Unterberg, Towbin, Syndicate, 350 Madison Avenue, New York,
NY 10017.
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision, Inc. is a world
leader in the development of high resolution displays and imaging
systems based on the company’s proprietary silicon micromirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
Microvision has been working with Canon, BMW, the Electronics
Research Lab of Volkswagen of America, Johnson & Johnson’s Ethicon
Endo Surgery subsidiary and others to develop a number of display and
image capture product applications based on its proprietary scanned
beam technology.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those
relating to market opportunities and plans for product development and
applications, 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: our ability to raise
additional capital when needed; market acceptance of our technologies
and products; our financial and technical resources relative to those
of our competitors; our ability to keep up with rapid technological
change; our dependence on the defense industry and a limited number of
government development contracts; 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 most recently filed Annual
Report on 10-K for the year ended December 31, 2002 and its Quarterly
Reports on Form 10-Q. Except as expressly required by the 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 circumstances or any other reason.
CONTACT: Microvision, Inc., Bothell
Brian Heagler, 425-415-6794
SOURCE: Microvision, Inc.