8/26/2002 1:28:00 PM
BOTHELL, Wash., Aug 26, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies, today announced that it
has completed a $3 million equity placement, consisting of common stock and
common stock purchase warrants.
The offering consisted of 686,499 shares of registered common stock and 137,300
shares of common stock purchase warrants exercisable at $6.55 per share through
August 26, 2007. The shares were offered under an existing shelf registration.
Two existing institutional investors participated in the placement.
“We continue to have success in raising capital, even during very difficult
market conditions,” said Microvision CEO Rick Rutkowski. “We have raised a total
of $23 million during the last 10 months, attracting capital from both new and
existing investors. We believe that our continuing success in raising capital
reflects both the progress the company has made and the exciting opportunities
ahead of us. Maintaining a solid balance sheet with sufficient cash resources
has been and will continue to be an important goal of the company.”
Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the
proprietary Retinal Scanning Display technology and a world leader in micro
miniature optical scanning technology for display and imaging applications. The
company’s technology has applications in a broad range of military, medical,
industrial, professional and consumer information products. Additional
information can be found at the company’s Web site at
Forward Looking Statement
Certain statements contained in this release, including those concerning
opportunities and product applications, as well as statements containing words
like “believe,” “anticipate,” “estimate,” “intend,” “expect,” and other similar
expressions, 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 our forward-looking statements include the following: market
acceptance of our technologies and products; our financial and technical
resources relative to those of our competitors; our ability to obtain financing;
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 and to develop partnership opportunities; the timing of commercial
product launches; the ability to achieve key technical milestones in key
products; and other risk factors identified from time to time in our SEC
reports, including in our Annual Report on 10-K for the year ended December 31,
2001 and our Quarterly Reports on Form 10-Q.
Brian Heagler (investors), email@example.com
Matt Nichols (media), firstname.lastname@example.org
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