MicroVision Prices $10 Million Offering of Common Stock

Date Announced: 10 Aug 2017

REDMOND, Wash.--(BUSINESS WIRE)--MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature laser display and sensing technology, today announced the pricing of an underwritten public offering of 4,761,905 shares of its common stock at a public offering price of $2.10 per share, for gross proceeds of approximately $10 million. MicroVision has also granted the underwriter a 30-day option to purchase up to an additional 714,286 shares of common stock to cover over-allotments, if any.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS), is acting as the sole underwriter of the offering. Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, is acting as financial advisor in the offering.

MicroVision expects to receive net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $9.1 million from the offering. MicroVision intends to use the net proceeds for general corporate purposes. The offering is expected to close on or about August 15, 2017, subject to the satisfaction of customary closing conditions.

The securities described above are being offered by MicroVision pursuant to its registration statement on Form S-3 (Registration No. 333-211869) (including a related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933), previously 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 prospectus supplement and the accompanying prospectus relating to the proposed offering. The preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC, and a final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC, and 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.

Source: MicroVision

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