|[June 17, 2014]
MicroVision Announces $4.5 Million At-the-Market Equity Facility
REDMOND, Wash. --(Business Wire)--
Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature
projection display technology, today announced it entered into a $4.5
million At-the-Market (ATM) equity offering agreement with Meyers
Associates, L.P. (doing business as Brinson Patrick, a division of
Meyers Associates, L.P.), or Brinson Patrick, on June 16, 2014.
Under the agreement MicroVision may, from time to time, at its
discretion offer and sell shares of its common stock having an aggregate
value of up to $4.5 million through Brinson Patrick. MicroVision intends
to use the net proceeds from this facility, if any, for general
corporate purposes, which may include, but are not limited to, working
capital, capital expenditures and acquisitions of other technologies.
Under the ATM equity offering sales agreement, sales of common stock, if
any, through Brinson Patrick, will be made by means of ordinary brokers'
transactions, in negotiated transactions, to or through a market maker
other than on an exchange or otherwise, at market prices prevailing at
the time of sale, at prices related to such prevailing market prices, or
at negotiated prices and/or any other method permitted by law.
The common stock will be offered under MicroVision's existing effective
shelf registration statement (including a prospectus) filed with the
Securities and Exchange Commission. A prospectus supplement related to
the offering has been filed with the Securities and Exchange Commission.
Any offer, solicitation or sale will be made only by means of the
prospectus supplement and the accompanying prospectus. Current and
potential investors should read the prospectus forming part of the
registration statement, and the prospectus supplement relating to the
at-the-market offering and other documents the company has filed with
the SEC (News - Alert) for more complete information about MicroVision and the
At-the-Market offering program.
A copy of the prospectus supplement and accompanying prospectus relating
to these securities may be obtained by contacting Brinson Patrick, a
division of Meyers Associates, L.P. at 3 Columbus Circle 15th Floor, New
York, NY 10019, Attention: Investment Banking, by telephone at (212)
453-5000, or by email at email@example.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor may there be any sale of
MicroVision's common stock in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities law of any state or jurisdiction.
MicroVision is the creator of PicoP® display technology, an
ultra-miniature laser projection solution for mobile consumer
electronics, automotive head-up displays and other applications. 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.
This news release contains forward-looking statements regarding the
company's offering from time to time of common stock and the associated
use of proceeds, and is based on the company's current expectations and
judgment. Any statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements. Words such as "plans," "intends," "believes," "expects,"
"anticipates," "potential," "possible" and similar expressions are
intended to identify 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; 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 in Item 1A
under the heading "Risk Factors" in 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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