3/22/2016 8:30:20 AM
REDMOND, Wash.–(BUSINESS WIRE)–Mar. 22, 2016–
Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature laser
display and imaging technology, today announced the pricing of an
underwritten public offering of 3,529,412 shares of its common stock at
a public offering price of $1.70 per share, for gross proceeds of
approximately $6.0 million. MicroVision also granted the underwriter a
30-day option to purchase up to an additional 529,411 shares of common
stock to cover over-allotments, if any.
Northland Capital Markets is acting as underwriter in the offering.
MicroVision expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of approximately
$5.4 million from the offering. MicroVision intends to use the net
proceeds for general corporate purposes. The offering is expected to
close on or about March 28, 2016, subject to the satisfaction of
customary closing conditions.
The securities described above are being offered by MicroVision pursuant
to its registration statement on Form S-3 (Registration No. 333-192864)
previously filed and declared effective by the Securities and Exchange
Commission (SEC). This press release does not constitute an offer to
sell or a solicitation of an offer to buy the securities in the
offering, nor shall there be any sale of these securities in any
jurisdiction in which an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The offering may be made only by means of the prospectus
supplement and the accompanying prospectus relating to the proposed
offering. The preliminary prospectus supplement and accompanying
prospectus related to the offering have been filed with the SEC, and a
final prospectus supplement and accompanying prospectus related to the
offering will be filed with the SEC, and will be available on the SEC’s
website located at http://www.sec.gov
and may also be obtained, when available, from Northland Capital Markets
at 45 South Seventh Street, Suite 2000, Minneapolis, Minnesota 55402,
via telephone toll free at (800) 851-2920 or via email to firstname.lastname@example.org.
Northland Capital Markets is the trade name for certain capital markets
and investment banking services of Northland Securities, Inc., member
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature laser projection and imaging solution based on the laser
beam scanning methodology pioneered by the company. MicroVision’s
platform approach for this advanced display and imaging solution means
that it can be adapted to a wide array of applications and form factors.
It is an advanced solution for a rapidly evolving, always-on world.
Extensive research has led MicroVision to become an independently
recognized leader in the development of intellectual property.
MicroVision’s IP portfolio has been recognized by the Patent Board as a
top 50 IP portfolio among global industrial companies and has been
included in the Ocean Tomo 300 Patent Index. The company is based in
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United
States and other countries. All other trademarks are the properties of
their respective owners.
Certain statements contained in this release, including those relating
to closing of the offering, and those statements using words such as
“designed to,” “intends” and “expects” 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 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 relating to MicroVision can be found on EDGAR at www.sec.gov.
Source: MicroVision, Inc.