Microvision Converts $5 Million of Preferred Stock to Common Equity

Microvision Converts $5 Million of Preferred Stock to Common Equity

on May 04, 2006

Microvision Converts $5 Million of Preferred Stock to Common Equity

REDMOND, Wash.--(BUSINESS WIRE)--May 4, 2006--Microvision, Inc. (NASDAQ:MVIS - News), a leader in light scanning technologies, today announced that the holder of the Company's preferred stock converted its $5 million preferred stock holding issued in September 2004 to common equity. As consideration for the conversion of the preferred stock, the company issued a total of 1,353,066 shares of its common stock. Further details will be available in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

"By completing this transaction we have reduced the outstanding debt of the Company and eliminated the related dividend and redemption requirements of this Preferred Stock," said Alexander Tokman, Microvision's President and CEO. "This conversion is consistent with our goal of simplifying the capital structure of the Company to better align the equity interests of the Company's shareholders."

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