MicroVision announces proposed public offering of common stock

MicroVision a leader in MEMS-based solid-state automotive lidar technology and ADAS solutions, announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten $75.0 million public offering.

UBS Investment Bank is acting as the lead book-running manager for the proposed offering. Cantor Fitzgerald is acting as the book-running manager for the proposed offering. Craig-Hallum is acting as the co-manager for the proposed offering.

MicroVision also expects to grant the underwriters a 30-day option to purchase up to an additional $11.25 million of its common stock at the public offering price, less the underwriting discount. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering. MicroVision intends to use the net proceeds from the offering for general corporate purposes.

The securities described above are being offered by MicroVision pursuant to its registration statement on Form S-3, which became effective automatically upon its filing with the Securities and Exchange Commission (SEC) on June 13, 2023. The offering may be made only by means of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering, copies of which will be available on the SEC’s website located at http://www.sec.gov and may also be obtained, when available, from UBS Securities, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, or by email at ol-prospectus-request@ubs.com; or Cantor Fitzgerald, 499 Park Avenue, 6th Floor, New York, New York 10022, Attn: Capital Markets Department, or by email at prospectus@cantor.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus in the registration statement and other documents MicroVision has filed or will file with the SEC for more complete information about MicroVision and the offering.

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.