MicroVision Prices $13.9 Million Offering of Common Stock and Warrants

Date Announced: 13 Mar 2014

Laser projection specialist looks to bolster its cash holdings.

REDMOND, Wash.--(BUSINESS WIRE)--MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature laser display technology, today announced that it has priced an underwritten offering of 7,160,000 units at a price to investors of $1.94 per unit for gross proceeds of approximately $13.9 million.

Each unit consists of one share of common stock and one warrant to purchase 0.3 shares of common stock at an exercise price of $2.47 per share. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants are exercisable beginning six months from the date of issuance and expire on the fifth anniversary of the date of issuance.

MicroVision expects to receive net proceeds, after deducting the underwriting discount, of approximately $13.1 million from the offering. Oppenheimer & Co. is acting as the underwriter for the offering. The offering is expected to close on or about March 18, 2014, subject to the satisfaction of customary closing conditions. MicroVision intends to use the net proceeds of the offering for general corporate purposes.

A preliminary prospectus supplement and the prospectus relating to the proposed offering was filed with the SEC. The offering may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statements.

When available, copies of the final prospectus supplement and the prospectus relating to the proposed offering can be obtained at the SEC's website http://www.sec.gov or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, New York, NY, 10004, by telephone at (212) 667-8563, or via email at EquityProspectus@opco.com.

Source: MicroVision

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