Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Microvision (MVIS) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (4543)	4/11/2000 8:51:00 AM
From: JDN	Read Replies (1) \| Respond to of 7720

To all: You may find this interesting. JDN Microvision to Close Investment from Cree and General Electric PensionTrust at $50 Per Share BOTHELL, Wash., April 11 /PRNewswire/ -- Microvision, Inc. (Nasdaq: MVIS) announced today that the company will close tomorrow on a recently announced $25 million investment from Cree, Inc. (Nasdaq: CREE) and General Electric Pension Trust (GEPT). The investment is aimed at accelerating development of Microvision's retinal scanning display solutions for integration into mobile handsets and mobile headsets targeted at the rapidly emerging wireless Internet market. The transaction is being completed, according to its terms, following the effectiveness on Friday April 7, of an S-3 registration statement covering the shares. As a result, each partner will purchase 250 shares of Microvision common stock, at $50 per share for a total of $25 million. Terms of the transaction contained a provision for a possible adjustment (below $50) of the price upon effectiveness of a registration statement. Since the pricing formula is based on the volume-weighted average for the 25 days preceding effectiveness, the effectiveness of the registration statement on Friday eliminated the potential for such a reset. About Microvision Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the patented Retinal Scanning Display technology that uses a rapidly scanned beam of light to project images on the eye's retina, allowing the viewer to see large, full-motion images without the need for a conventional display screen. Microvision's objective is to be a leading provider of personal display products and imaging technology in a broad range of military, medical, industrial, professional and consumer applications. Additional information can be found at the company's Web site at mvis.com. Forward-Looking Statement The information set forth in this release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Certain factors that realistically could cause results to differ materially from those projected in the company's forward-looking statements are set forth in the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission. SOURCE Microvision, Inc.