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MicroVision, Inc. (Nasdaq: MVIS), a leader in innovative ultra-miniature laser display technology, today announced that it has priced an underwritten public offering of 4.2 million units at a price to the public of $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. Oppenheimer & Co. is acting as the underwriter for the offering. The offering is expected to close on or about June 20, 2012, subject to the satisfaction of customary closing conditions. MicroVision intends to use the net proceeds of the offering for general corporate purposes.
A preliminary prospectus supplement and the prospectus relating to the proposed offering was filed with the SEC. The offering may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, copies of the final prospectus supplement and the prospectus relating to the proposed offering can be obtained at the SEC's website
http://www.sec.gov or 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
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.