Display maker MicroVision plans fundraising through public stock offer

Updated June 22, 2012 – BUSINESS WIRE — MicroVision, Inc. (Nasdaq:MVIS), ultra-miniature laser display maker, closed its public offering with net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $9.7 million.

Updated June 18, 2012 – BUSINESS WIRE — MicroVision is offering to sell, subject to market and other conditions, shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering, with Oppenheimer & Co. Inc. as underwriter. MicroVision intends to use the net proceeds from the offering for general corporate purposes.

MVIS’ 4.2 million units are priced to the public at $2.50 per unit for gross proceeds of approximately $10.5 million. Each unit consists of one share of common stock and one warrant to purchase 0.5 shares of common stock at an exercise price of $2.65 per share. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants are exercisable beginning one year from the date of issuance and expire on the fifth anniversary of the date of issuance. MicroVision expects to receive net proceeds, after deducting the underwriting discount, of approximately $9.9 million from the offering.

The offering is expected to close on or about June 20, 2012, 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 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, 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 preliminary prospectus supplement and the prospectus relating to the proposed offering, copies of which may be obtained, when available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, New York, NY, 10004, by telephone at 212-667-8563, or via email at [email protected].

MicroVision provides the PicoP display technology platform designed to enable next-generation display capabilities for consumer devices and vehicle displays. The company’s PicoP display technology uses highly efficient laser light sources which can create vivid images with high contrast and brightness. For more information, visit www.microvision.com

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