12/21/2016 5:08:26 PM
REDMOND, Wash.–(BUSINESS WIRE)–Dec. 21, 2016–
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature
laser display and sensing technology, today announced the sale of two
million shares of its common stock at a price of $1.07 per share to Ben
Lawrence-Farhi in a registered direct offering for gross proceeds of
MicroVision intends to use the net proceeds for general corporate
purposes. Farhi had indicated his interest in participating in the
company’s recently completed underwritten public offering of shares of
company common stock at a price to the public of $1.07 per share, but
was unable to do so due to logistical reasons.
The securities described above are being offered by MicroVision pursuant
to its registration statement on Form S-3 (Registration No. 333-211869)
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
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature laser projection and sensing solution based on the laser
beam scanning methodology pioneered by the company. MicroVision’s
platform approach for this advanced display and sensing 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
“expects” and “intends” are forward-looking statements that involve a
number of risks and uncertainties that could cause actual results to
differ materially from those projected in the company’s forward-looking
statements. These risks and uncertainties include, but are not limited
to: 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; products incorporating our PicoP® scanning
technology may not achieve market acceptance, commercial partners may
not perform under agreements as anticipated, we may be unsuccessful in
identifying parties interested in paying any amounts or amounts we deem
desirable for the purchase of products or license of IP assets, 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 the company’s 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.