3/25/2002 1:25:00 PM
BOTHELL, Wash., Mar 25, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies, today announced that is
has completed an equity placement for just over $6 million, consisting of
524,130 shares of registered common stock.
The shares are not subject to any conversion or reset features, and the
placement did not include any type of warrants or additional securities.
Participants include G.E. Pension Trust, Qualcomm co-founder Andrew Viterbi and
other existing shareholders.
“Maintaining a strong balance sheet is a core strategy for the Company,” said
Microvision CEO Rick Rutkowski. “We felt it was appropriate to add a modest
amount of capital well in advance of our needs.”
The company recently reported that including its subsidiary Lumera, it had $33.7
million in cash, cash equivalents and investment securities, as of Dec. 31,
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 http://www.mvis.com.
Forward-Looking Statements Disclaimer
The information set forth in this release includes “forward-looking statements”
within the meaning of Section 21E of the Securities Act of 1934, as amended, and
is subject to the safe harbor created by those sections. Certain factors that
realistically could cause results to differ materially from those projected in
the company’s forward-looking statements are set forth in the company’s Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed with the
Securities and Exchange Commission.
Brian Heagler, 425/415-6794(investors)
Matt Nichols, 425/415-6657 (media)
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