5/31/2006 9:01:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–May 31, 2006–Microvision, Inc.
(NASDAQ: MVIS) announced today the pricing of its public offering of
10,750,000 shares of its common stock and warrants to purchase
10,750,000 shares of its common stock at a price of $2.21 per share of
common stock and $.125 per accompanying warrant before underwriting
discounts and commissions. Gross proceeds before underwriter fees and
offering expenses are expected to be approximately $25.1 million.
MDB Capital Group LLC is acting as the sole underwriter of the
offering. The Company has also granted the underwriter an over
allotment option.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. A prospectus supplement
relating to these securities has been filed with the Securities and
Exchange Commission. The offering of the shares of common stock may be
made only by means of the prospectus supplement and related
prospectus, copies of which will be available from MDB Capital Group
LLC, 401 Wilshire Boulevard, Suite 1020, Santa Monica, California
90401 or by calling MDB Capital Group at (310) 526-5000.
About Microvision: www.microvision.com
Headquartered in Redmond, Wash., Microvision, Inc. is the world
leader in the development of high-resolution displays and imaging
systems based on the company’s proprietary silicon micro-mirror
technology. The company’s technology enables solutions and products in
a broad range of industrial, consumer, military, and medical
applications.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including closing of
proposed financing, product applications, as well as statements
containing words like “expects”, 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: capital
market risks, 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, risks
related to Lumera’s business and the market for its equity and other
risk factors identified from time to time in the company’s SEC reports
and other filings, including the Company’s Annual Report on Form 10-K
filed with the SEC. 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 in circumstances or any other
reason.
CONTACT: Microvision, Inc.
Investors:
Jeff Wilson, 425-882-6625
or
Media:
Matt Nichols, 425-882-6657
SOURCE: Microvision, Inc.