REDMOND, Wash.--(Business Wire)--
Microvision, Inc.(NASDAQ: MVIS), a global leader in light scanning technologies,
today announced the closing of its public offering of 3,333,333 shares of its
common stock to a single current institutional shareholder at a price to the
public of $3.00 per share. Microvision received net proceeds, after deducting
the underwriting discount and estimated offering expenses, of approximately $9.3
million from the offering. Oppenheimer & Co. Inc. is the sole book-running
manager and Craig Hallum Capital Group LLC is acting as co-manager for the
offering.
Microvision intends to use the net proceeds of the offering for general
corporate purposes, including, but not limited to, working capital and capital
expenditures.
The securities described above are being offered by Microvision pursuant to
registration statement on Form S-3 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. The offering may be made only by means of the prospectus
supplement and the related prospectus relating to the offering, copies of which
may be obtained, when available, from Oppenheimer & Co. Inc., Attention:
Syndicate Prospectus Department, 300 Madison Avenue, 4th Floor, New York, NY,
10017, by telephone at (212) 667-8563, or via email at
EquityProspectus@opco.com.
About Microvision, Inc.
Microvision provides the PicoP display technology platform designed to enable
next-generation display and imaging products for pico projectors, vehicle
displays, and wearable displays that interface with mobile devices. The
company's projection display engine uses highly efficient laser light sources
which can create vivid images with high contrast and brightness. For more
information, visit the company's website (www.microvision.com).
Microvision, Inc.
Matt Nichols (media), 425-882-6657
or
Tiffany Bradford (investors), 425-882-6629
Copyright Business Wire 2009
