REDMOND, Wash.--(BUSINESS WIRE)--
MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature laser display technology, today announced that although more than 95 percent of the votes cast have voted FOR approval of the registered direct offering of common stock and warrants to purchase common stock at the Special Meeting of the Company’s Stockholders scheduled for today, the meeting will be adjourned due to the expected lack of a quorum. A majority of the Company’s outstanding common stock must be present at the Special Meeting, either in person or by proxy, to establish a quorum, but only approximately 26 percent of the outstanding shares have been voted to date.
The Special Meeting of the Company’s Stockholders will be adjourned to Friday, September 13, 2013 at 11:00 a.m., Pacific Time, and will be held at The Redmond Inn, 17601 Redmond Way, Redmond, WA 98052. The meeting is being adjourned to provide the Company with additional time to solicit proxies from its stockholders to establish a quorum for the conduct of business at the Special Meeting of Stockholders.
The Company’s proxy materials, including its Notice of the Special Meeting, which were previously filed and mailed to the Company’s stockholders on or about July 10, 2013, as well as the agenda for the meeting set out therein, remain unchanged. The record date for the stockholders entitled to vote at the special meeting remains the close of business on June 27, 2013.
Stockholders who have not voted as of yet are encouraged to submit their votes. Information related to the vote can be found on the Investor page of MicroVision’s website.
MicroVision is the creator of PicoP® display technology, an ultra-miniature laser projection solution for mobile consumer electronics, automotive head-up displays and other applications. MicroVision’s patented display technology helps OEMs break down display boundaries and offer enhanced visibility to mobile experiences. Nearly two decades of research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and is also included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Certain statements contained in this release, including those relating to future product and technology development 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: we may be unable to successfully perform our obligations under the agreement, our contract party may not perform its obligations under the agreement, our ability to raise additional capital when needed; products incorporating our PicoP display engine may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the license of IP 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; 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 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.
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Dawn Goetter, 425-882-6629 (investors)
Joani Jones, 503-471-6863 (media/PR)