Business
MicroVision Announces Withdrawal of Public Offering of Common Stock
REDMOND, WA / ACCESSWIRE / June 14, 2023 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar technology and ADAS solutions,
About this update from Microvision, Inc.
[{"type":"text","content":"REDMOND, WA / ACCESSWIRE / June 14, 2023 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar technology and ADAS solutions, today announced that, due to market volatility, it has withdrawn its proposed public offering of shares of its common stock.\"In the interest of achieving the best value for our shareholders, we have decided to withdraw our previously announced public offering of common stock,\" said Sumit Sharma, Chief Executive Officer. \"We were pleased with the interest shown in the MicroVision story but given the market volatility and recent stock price performance, we intend to explore other capital raising opportunities with a focus on shareholder value. We appreciate the continued support of our shareholder base as shown at our Annual Meeting of Shareholders last month.\"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.About MicroVisionWith over 350 employees and global presence in Redmond, Detroit, Hamburg, and Nuremberg, MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company's integrated approach uses its proprietary technology to provide automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.MicroVision, MAVIN, MOSAIK, and MOVIA are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.Forward-Looking StatementsCertain statements contained in this release, including those relating to capital raising alternatives, and those statements using words such as \"intends\" are forward-looking statements that involve a number of risks and uncertainties...