MicroVision Announces Closing of $6.9 Million Offering of Common Stock

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REDMOND, Wash.--(BUSINESS WIRE)-- MicroVision, 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 hfletcher@northlandcapitalmarkets.com.

Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.

About MicroVision

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 Redmond, Wash.

For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc or follow MicroVision on Twitter at @MicroVision.

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 “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

Additional information relating to MicroVision can be found on EDGAR at www.sec.gov.

MicroVision, Inc.
Investors:
Dawn Goetter, 425-882-6629
ir@microvision.com
or
Media:
Nicole Cobuzio, 732-212-0823 ext. 102
nicolec@lotus823.com

Source: MicroVision, Inc.

Released March 29, 2016