3/29/2016 5:58:36 PM
REDMOND, Wash.–(BUSINESS WIRE)–Mar. 29, 2016–
Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature laser
display and imaging technology, today announced the closing of its
underwritten public offering of 4,058,823 shares of its common stock,
which includes the exercise in full of the underwriter’s option to
purchase up to an additional 529,411 shares, at a public offering price
of $1.70 per share for gross proceeds of approximately $6.9 million.
Northland Capital Markets acted as Sole Book Runner in the offering.
MicroVision expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of approximately
$6.2 million from the offering. MicroVision intends to use the net
proceeds for general corporate purposes.
The securities described above were 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 was made by means of the prospectus
supplement and the accompanying prospectus relating to the offering. A
final prospectus supplement and accompanying prospectus related to the
offering have been filed with the SEC, and are available on the SEC’s
website located at http://www.sec.gov
and may also be obtained 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
“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: 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.