MicroVision Announces $5.85 Million Offering of Common Stock and Warrants

  MicroVision Announces $5.85 Million Offering of Common Stock and Warrants

Business Wire

REDMOND, Wash. -- May 17, 2013

MicroVision, Inc. (Nasdaq: MVIS), a leader in innovative ultra-miniature laser
display technology, today announced that it has completed the sale of
2,635,136 shares of common stock and warrants to acquire up to an aggregate of
1,976,352 shares of common stock to Crede CG III, Ltd. (“Crede”) and other
investors for gross proceeds of $5.85 million in a registered direct offering.

The price per share was determined by the closing bid price on May 16, 2013 as
reported on the Nasdaq stock exchange. The warrants are exercisable at a price
of $2.886 per share. Under certain circumstances, in the event that
MicroVision’s common stock trades at a price that is 25% or more above the
exercise price of the warrants for a period of 20 consecutive days (with an
average daily volume equal to or greater than $300,000), the Company may,
subject to limitations in the warrants, require the holder of the warrants to
exercise the warrants for cash. If the common stock is then trading at a price
at or lower than the warrant exercise price, the warrants are also
exchangeable for a number of shares of MicroVision’s common stock determined
by a formula described in a Current Report on Form 8-K filed today with the
Securities and Exchange Commission, but not more than the number of shares for
which the warrant could be exercised for cash. As part of the sale,
MicroVision paid an investment fee to Crede, which reduced its aggregate
investment.

MicroVision intends to use the net proceeds of the offering to fund the
continued development and commercialization of its PicoP^® display technology
under its ingredient brand licensing strategy.

More information regarding the terms of the sale and the terms of the warrants
is included in a Current Report on Form 8-K filed today with the Securities
and Exchange Commission.

About MicroVision

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. MicroVision’s patented display technology
helps OEMs break down display boundaries and offer enhanced visibility to
mobile experiences. Nearly two decades of 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 is also
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 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.
Factors that could cause actual results to differ materially from those
projected in the company's forward-looking statements include the following:
we may be unable to successfully perform our obligations under the agreement,
our contract party may not perform its obligations under the agreement, our
ability to raise additional capital when needed; products incorporating our
PicoP display engine may not achieve market acceptance, commercial partners
may not perform under agreements as anticipated, we may be unsuccessful in
identifying parties interested in paying any amounts or amounts we deem
desirable for the license of IP assets, 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 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

Additional Information

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

Contact:

MicroVision, Inc.
Steve Holt, 425-882-6629 (investors)
or
Edelman
Joani Jones, 503-471-6863 (media/PR)
 
Press spacebar to pause and continue. Press esc to stop.