RCS - MicroVision, Inc. - MicroVision Executives and Board Purchase Shares

MicrovisionAnnouncement

15/11/2023 08:15

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RNS Number : 4607T  MicroVision, Inc.  14 November 2023

 

MicroVision Directors and Executive Team to Purchase Shares

 

 

REDMOND, WA / ACCESSWIRE / November 14, 2023 / MicroVision, Inc. (Nasdaq:
MVIS), a leader in MEMS-based solid-state automotive lidar technology and ADAS
solutions, today announced its executive management team and several members
of its Board of Directors have entered into private placement agreements to
purchase shares of the Company's common stock. Pursuant to the agreements, the
purchasers will acquire an aggregate of approximately $100,000 of
MicroVision's common stock at $1.97 per share, yesterday's closing price as
reported on The Nasdaq Stock Market.

"As the independent Chair of the Board, I have great confidence in
MicroVision's management team and the Company's business strategy," stated Mr.
Robert Carlile. "I believe MicroVision has a promising future ahead."

"These share purchases by members of the Board of Directors and the executive
team reflect our collective optimism toward accomplishing our strategic and
operational goals for MicroVision and our continued commitment to building and
achieving long-term value for our stockholders," said Sumit Sharma, the
Company's Chief Executive Officer. "We thank our stockholders for their
support and belief in what we are building here at MicroVision."

About MicroVision

With 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 Statements

Certain statements contained in this release, including statements about the
Company's business strategy and future prospects, as well as the likelihood of
accomplishing strategic and operational goals and building and achieving
long-term value for MicroVision stockholders, and those statements using words
such as "expects" or "intends" are forward-looking statements that involve a
number of risks and uncertainties. Factors that could cause actual results to
differ materially from those projected in our forward-looking statements
include the following: our ability to operate with limited cash or to raise
additional capital when needed; market acceptance of our technologies and
products or for products incorporating our technologies; the failure of our
commercial partners to perform as expected under our agreements; our ability
to identify parties interested in paying any amounts or amounts we deem
desirable for the purchase or license of intellectual property assets; our or
our customers' failure to perform under open purchase orders; our financial
and technical resources relative to those of our competitors; our ability to
keep up with rapid technological change; government regulation of our
technologies; our ability to enforce our intellectual property rights and
protect our proprietary technologies; the ability to obtain additional
contract awards and to develop partnership opportunities; the timing of
commercial product launches and delays in product development; the ability to
achieve key technical milestones in key products; dependence on third parties
to develop, manufacture, sell and market our products; potential product
liability claims; our ability to maintain our listing on The Nasdaq Stock
Market, and other risk factors identified from time to time in our SEC
reports, including our Annual Report on Form 10-K, our Quarterly Reports on
Form 10-Q and other reports filed with the SEC. These factors are not intended
to represent a complete list of the general or specific factors that may
affect us. It should be recognized that other factors, including general
economic factors and business strategies, may be significant, now or in the
future, and the factors set forth in this release may affect us to a greater
extent than indicated. Except as expressly required by federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, changes in circumstances or any other reason.

Investor Relations Contact:

Jeff Christensen

Darrow Associates Investor Relations

MVIS@darrowir.com (mailto:MVIS@darrowir.com)

Media Contact:

Robyn Komachi

Marketing@MicroVision.com (mailto:Marketing@MicroVision.com)

SOURCE: MicroVision, Inc.

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