MicroVision Announces Proposed Public Offering of Common Stock
August 09 2017 - 5:06PM
Business Wire
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature projection display and sensing technology, today
announced that it intends to offer to sell, subject to market and
other conditions, shares of its common stock in an underwritten
public offering. Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS),
will act as the sole underwriter of the offering. MicroVision also
expects to grant the underwriter a 30-day option to purchase
additional shares of common stock equal to up to 15 percent of the
aggregate number of shares to be sold in the offering to cover
over-allotments, if any. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the final size or terms of the
offering. MicroVision intends to use the net proceeds from the
offering for general corporate purposes.
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 jurisdiction. The
offering may be made only by means of the preliminary prospectus
supplement and the accompanying prospectus relating to the proposed
offering, copies of which will be available on the SEC’s website
located at http://www.sec.gov and may also be obtained, when
available, from Ladenburg Thalmann & Co. Inc., 277 Park Avenue,
26th Floor, New York, NY 10172, or by email at
prospectus@ladenburg.com. Before you invest, you should read the
preliminary prospectus supplement and accompanying prospectus in
the registration statement and other documents MicroVision has
filed or will file with the SEC for more complete information about
MicroVision and the offering.
About MicroVision
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. MicroVision’s business model and
product line offering includes display and sensing engines,
licensing its patented technology and selling components to
licensees for incorporation into their scanning engines.
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 Redmond, Wash.
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.
Forward-Looking Statements
Certain statements contained in this release, including those
relating to closing of the offering, and those statements using
words such as “expects” or “intends” 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: 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; products incorporating our PicoP® display engine 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170809006221/en/
MicroVision, Inc.Dawn Goetter, 425-882-6629
(investors)ir@microvision.comorNicole Cobuzio, 732-212-0823 ext.
102 (media)nicolec@lotus823.com
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