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Microvision To Receive Up To $34 Million In Proceeds From The Call of Public Warrants

REDMOND, Wash.--(BUSINESS WIRE)--Microvision, Inc. (NASDAQ:MVIS - News), a global leader in innovative ultra-miniature projection display and image capture products for mobility applications, announced today it has exercised its right to call its publicly traded warrants (NASDAQ:MVISW - News). The public warrants were issued in connection with the company's June 2006 financing transaction and allow the company to redeem the warrants if the Nasdaq closing bid prices of the company's common stock averages at least $5.304 over any 20 consecutive trading days ending after June 4, 2007. The company will receive $34.2 million in proceeds if all 12.9 million public warrants are exercised.

"We believe this important and tangible event is a direct tribute to the progress we made last year in reinventing the Company and positioning it on the path to long-term growth," stated Alexander Tokman, President and CEO of Microvision. "Our new business strategy and operating mechanisms centered around the development and commercialization of the high volume products based on the PicoP(TM) platform, our new execution standards, and the improved financial condition we believe have resonated well with our customers and shareholders over the past 12 months. The cash inflow we receive from the exercise of the public warrants will allow us to stay focused on our primary goal of accelerating the path to market for high volume consumer and automotive products."

Warrant holders have the right to exercise their warrants prior to the end of the notice period on July 6, 2007. Any warrants that remain unexercised as of July 6, 2007 will terminate and permanently cease to be exercisable. Exercise of the warrants may be effected in accordance with the warrant agreement governing the warrant only by surrender of a warrant certificate and delivery of other required documents and upon payment of the aggregate exercise price in cash, certified check or bank draft payable to the order of Microvision delivered to American Stock Transfer and Trust, the Warrant Agent. Warrant holders can contact American Stock Transfer and Trust Shareholder Services at 1-800-937-5449 with questions regarding the warrant exercise procedure.

About Microvision:
Microvision provides a display technology platform designed to enable next generation display and imaging products for pico projectors, vehicles displays, and wearable displays that interface to mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology.

Forward-Looking Statements Disclaimer

Certain statements contained in this release, including those relating to future products, product applications and benefits, future product form factor and power requirements, as well as statements containing words like "plans," "expects," "believes," "allow," "seeking," and other similar expressions, 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 the Company's forward-looking statements include the following: our ability to raise additional capital when needed; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; 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; 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 and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by the 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.


At June 21, 2007 at 7:41 PM cybertrader2001 said...

I just had a little suggestion for some wording on the hopeful "upcoming" cell phone OEM annoucment. As far as comments, including those from Tokmen at the Annual Shareholder's Meeting, you guys seem on track for hopefully announcing the first cell phone OEM agreement. It it expected that for NDA reasons, etc. that at the time of this agreement, you will not be able to disclose the name of the OEM, similar to the other recent agreements annoucments you have had. However, it would be really great if you guys could at least include in the annoucment something that quantifies the magnitude of the deal. ie, say that the deal is with "One of the top 5 cell phone OEMs" or something of that nature. More than just saying a "Tier1" OEM b/c that could mean so many things. Something concrete like that wouldn't give away whatsoever who the OEM is, but could more truly show the scope of the deal you guys landed.

Just a suggestion, that I'm hoping, as an investor ... that you guys take, if you weren't doing so already.


At June 21, 2007 at 7:44 PM Gary Zyko said...

I need wireless data collection tool, it needs to have a form that can support drop down menus, check boxes, support GPS, maybe bar coding and photo capture. Does anyone know of a product or service that can support wireless data collection like this?

At June 22, 2007 at 7:58 PM Willie Reid said...

I have been working in a construction business for about 2 years and we found a solution that does this. We use it for wireless bar code reading and GPS tracking. The best part is we can customize the forms on-the-fly which saves us a lot of time over a customized solution. Company name is Westlake Software out of Los Angeles I think. There website is Their product is call They made a custom Extranet for us for our company to use but their main product site is We found this service set up to make it pretty easy for us to migrate the information to our back office system. We use the technology and route it to 40 different servers nationally; has worked flawlessly for about three years. I would definitely recommend them.
Willie Reid, VP IT

At June 22, 2007 at 9:08 PM Kitty said...

Is it just me, or do the previous two posters have very similar writing styles.

It's also telling that they posted 13 minutes apart.

And that neither has anything to do with Microvision.

At June 22, 2007 at 9:22 PM Ben said...

yeah, but it sounds cool, eh? ;-)

At June 26, 2007 at 5:15 AM sturocks said...

Thanks much for an awesome sight. Best pictures I have ever seen. Great job. My thanks to all the staff. Go Microvision!


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