MicroVision Enters Into Various Agreements, Including a Securities Purchase Deal with High Trail Special Situations LLC

MicroVision, Inc. (NASDAQ:MVIS) recently disclosed multiple significant agreements in an 8-K filing with the Securities and Exchange Commission. On February 3, 2025, the company finalized a Letter Agreement with High Trail Special Situations LLC. Pursuant to this agreement, the investor chose to receive Partial Redemption Payments totaling $11,550,000 for Partial Redemption Dates between June 1, 2025, and August 1, 2025, while deferring these payments to subsequent dates from September 1, 2025, to March 1, 2026. Additionally, the investor agreed to convert $2,750,000 of the outstanding Initial Principal Amount and aims to convert the remaining $5,975,000 by March 15, 2025, or soon thereafter.

Moreover, MicroVision entered into a Securities Purchase Agreement with the same investor, agreeing to sell 5,750,225 shares of its common stock and warrants to purchase an equal number of shares for approximately $8 million. The closing of this sale, expected around February 4, 2025, falls in line with the company’s intention to use the proceeds for general corporate purposes.

The Securities and associated warrants were registered under the Company’s Form S-3 registration statement (Registration No. 333-272616), declared effective by the SEC on June 4, 2024. The issuance and sale of these Securities are anticipated to offer additional resources to support MicroVision’s growth strategies and strengthen its financial standing.

Moreover, pursuant to the Purchase Agreement, MicroVision will grant Warrants to the Investor, enabling them to purchase Company common stock at an exercise price of $1.57 per share. The Warrants can be exercised after six months of issuance or once the Requisite Stockholder Approval is secured. Adjustments may apply to the exercise price and securities quantities based on specific corporate events as outlined in the terms.

Furthermore, holders of the Warrants can exercise their rights before the termination date by submitting a duly completed exercise notice and the required cash payment or opt for a cashless exercise if certain conditions are not met for the underlying shares’ issuance.

The agreements and transactions disclosed are key steps reflecting MicroVision’s strategic moves and the Company’s positioning for future growth and financial health.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MicroVision’s 8K filing here.

MicroVision Company Profile

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.