Microvision (MVIS) Confirms $140 Million At-the-Market Equity Facility

June 21, 2021 4:21 PM EDT
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MicroVision, Inc. (NASDAQ: MVIS), a leader in MEMS based solid state automotive lidar and micro-display technology for augmented reality, today announced it entered into a $140 million At-the-Market (ATM) equity offering agreement with Craig-Hallum Capital Group (Craig-Hallum).

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 $140 million through Craig-Hallum. MicroVision intends to use the net proceeds from the ATM, if any, for general corporate purposes, which may include, but are not limited to, working capital and capital expenditures as MicroVision continues to pursue its strategy to enhance shareholder value.

“I am proud of the progress our Company has made advancing our automotive lidar program. We look forward to more broadly promoting our technology to OEM and Tier 1 suppliers and publicly testing our sensor with external test-site partners,” said Sumit Sharma, MicroVision Chief Executive Officer. “A strong balance sheet gives our potential customers and partners confidence that MicroVision is a capable and trusted long-term supplier.”

Under the ATM equity offering sales agreement, sales of common stock, if any, through Craig-Hallum, 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 effective shelf registration statement filed February 16, 2021 with the Securities and Exchange Commission (SEC), which includes a base prospectus and a prospectus supplement relating to the offering. Any offer, solicitation or sale will be made only by means of the prospectus. Current and potential investors should read the prospectus and other documents the company has filed with the SEC for more complete information about MicroVision and the ATM.



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