6/15/2012 9:45:31 AM
REDMOND, Wash.–(BUSINESS WIRE)–Jun. 15, 2012–
MicroVision, Inc. (Nasdaq: MVIS), a leader in innovative ultra-miniature
laser display technology, today announced that it has priced an
underwritten public offering of 4.2 million units at a price to the
public of $2.50 per unit for gross proceeds of approximately $10.5
million. Each unit consists of one share of common stock and one warrant
to purchase 0.5 shares of common stock at an exercise price of $2.65 per
share. The shares of common stock and warrants are immediately separable
and will be issued separately. The warrants are exercisable beginning
one year from the date of issuance and expire on the fifth anniversary
of the date of issuance. MicroVision expects to receive net proceeds,
after deducting the underwriting discount, of approximately $9.9 million
from the offering. Oppenheimer & Co. is acting as the underwriter for
the offering. The offering is expected to close on or about June 20,
2012, subject to the satisfaction of customary closing conditions.
MicroVision intends to use the net proceeds of the offering for general
corporate purposes.
A preliminary prospectus supplement and the prospectus relating to the
proposed offering was filed with the SEC. The offering may be offered
only by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. When available,
copies of the final prospectus supplement and the prospectus relating to
the proposed offering can be obtained at the SEC’s website http://www.sec.gov
or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus
Department, 85 Broad Street, New York, NY, 10004, by telephone at (212)
667-8563, or via email at EquityProspectus@opco.com.
About MicroVision
MicroVision provides the PicoP® display technology platform designed to
enable next-generation display capabilities for consumer devices and
vehicle displays. The company’s PicoP display technology uses highly
efficient laser light sources which can create vivid images with high
contrast and brightness.
For more information, visit us on:
Website: www.microvision.com
Blog: www.microvision.com/displayground
Twitter: www.twitter.com/microvision
Facebook: www.facebook.com/MicrovisionInc
YouTube: www.youtube.com/mvisvideo
Forward-looking Statements
Certain statements contained in this release, including those relating
to closing of the offering, and those statements using words such as
“designed to” and “intends” are forward-looking statements that involve
a number of 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; capital market risks; our ability to raise additional
capital when needed; our, or our customers’, failure to perform under
open purchase orders; our financial and technical resources relative to
those of our competitors; 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; 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 Annual Report on Form 10-K and Quarterly Report on Form
10-Q filed with the SEC. Except as expressly required by 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.
Additional Information
Additional information relating to MicroVision can be found on EDGAR at www.sec.gov.
Source: MicroVision, Inc.
MicroVision, Inc.
Tiffany Bradford, 425-882-6629 (investors)
Callie
Snyder (Edelman), 503-471-6816 (media/PR)