2/2/2006 9:01:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–Feb. 2, 2006–Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies, today
announced that it completed a private placement of 2.55 million shares
of its holdings in Lumera Corporation (Nasdaq:LMRA) stock for $10.3
million. The shares were sold to a small group of investors. The
company reported that it completed the transaction as part of its
strategy to fund its operations through 2006. Microvision continues to
own 2.1 million shares of Lumera stock of which 1.75 million shares
are pledged as collateral for its existing senior note obligations.
About Microvision: www.microvision.com.
Headquartered in Bothell, Wash., Microvision, Inc. is the world
leader in the development of high-resolution displays and imaging
systems based on the company’s proprietary silicon micro-mirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
Certain statements contained in this release relating to product
applications 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 company’s
forward-looking statements include the following: meeting the required
conditions to consummating the announced financing; market acceptance
of our technologies and products; our ability to obtain financing; 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 and to develop
partnership opportunities; the timing of commercial product launches;
the ability to achieve key technical milestones in key products; and
other risk factors identified from time to time in the company’s SEC
reports, including in its Annual Report on 10-K for the year ended
December 31, 2004, and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc.
Brian Heagler, 425-415-6794
SOURCE: Microvision, Inc.