• Skip to content
  • Skip to footer

Microvision

Pioneer of PicoP Scanning Technology

  • Technology
  • Investors
    • Investor Overview
    • Press Releases
    • Presentations
    • Investor Events Calendar
    • Financial Reports
      • Quarterly Reports
      • Annual Reports
      • SEC Filings
      • Fundamentals
    • Leadership Team
    • Corporate Governance
      • Highlights
      • Committee Composition
    • Analyst Coverage
    • Stock Information
      • Stock Quote/Chart
      • Historical Price Lookup
    • Sign Up for Email Alerts
    • Contact Us
  • Our Company
    • Careers
    • Leadership
  • Newsroom
  • Contact

MicroVision Secures $5 Million Equity Investment from Private Investors

May 10, 2012 By JSMT Media

MicroVision Secures $5 Million Equity Investment from Private Investors
5/10/2012 9:00:08 AM
REDMOND, Wash.–(BUSINESS WIRE)–May. 10, 2012–
MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature
projection display technology, today announced that private investors
have agreed to invest approximately $5 million in the company. The deal
is expected to be completed by May 29, 2012.

Under the terms of the agreement, the investors have agreed to purchase
3,346,048 shares of the company’s common stock at a price of $1.494 per
share and warrants to purchase a total of 1 million shares of the
company’s common stock at an exercise price of $2.12 per share,
exercisable until three years from issuance. MicroVision would receive
aggregate consideration of approximately $5 million upon closing of the
investment.

The lead investor is Shmuel Farhi, a Canadian-based real estate
developer and the sole owner of Farhi Holdings Corporation, which
currently owns and manages over 4 million square feet of office, retail,
and residential space in Canada valued at more than $500 million. Mr.
Farhi is also majority owner of a new professional hockey team in
California, the San Francisco Bulls.

“We are impressed with MicroVision’s highly regarded intellectual
property portfolio, its licensing and ingredient brand business model,
and its strong management team,” Mr. Farhi said. “We believe the company
is well positioned to take advantage of the large, emerging pico
projection market because of its patented PicoP display technology and
the availability of direct green lasers.”

MicroVision would be required to register the shares of its common stock
sold as part of this transaction and the shares of its common stock
issuable upon exercise of the warrants for resale under the Securities
Act of 1933, as amended.

About MicroVision

MicroVision provides the PicoP® display technology platform designed to
enable next-generation display and imaging products for consumer
devices, vehicle displays and wearable displays. The company’s PicoP
projection display technology uses highly efficient laser light sources
which can create vivid images with high contrast and brightness.

MicroVision is an independently recognized leader in the development of
intellectual property. MicroVision has been recognized by IEEE as a top
20 IP portfolio among all global electronics companies, and the top U.S.
Company in the rankings. MicroVision’s intellectual property portfolio
has also been recognized by the Patent Board, in association with the
Wall Street Journal, as a top 50 IP portfolio among all global
industrial companies. The Patent Board has developed more than 50
indicators that track global patent activity relating to companies’
innovation, technology, and science strengths. MicroVision’s
intellectual property portfolio is further recognized by having been
added to the Ocean Tomo 300 Patent Index. The Index is priced and
published by the NYSE Euronext (NYSE:OTPAT). The index is objectively
based on the value of intellectual property compared to competitors.

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 the closing of the equity financing, future products and product
applications, availability of direct green lasers, and those using words
such as “will,” “believe,” and “expect,” “designed to” and “would” 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 forward-looking statements
include the following: the company may fail to satisfy the conditions to
closing in the purchase agreement related to the planned equity
financing, the investors in the planned financing may not perform their
obligations to purchase the shares and warrants, our ability to raise
additional capital when needed; 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.

Source: MicroVision, Inc.

MicroVision, Inc.
Tiffany Bradford, 425-882-6629 (investors)
or
Edelman
Callie
Snyder, 503-471-6816 (media/PR)

Filed Under: Uncategorized

Footer

About MicroVision

MicroVision is the creator of PicoP® scanning technology, an ultra-miniature sensing and laser projection solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced sensing and display 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.

Connect With MicroVision

6244 185th Ave NE
Suite 100
Redmond, WA 98052

Copyright © 2021 · MicroVision · All Rights Reserved

Terms & Conditions | Privacy Policy

Web Design Agency - JSMT Media