Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 80

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 80
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 lease liabilities are as follows:

 SCHEDULE OF MATURITIES OF LEASE LIABILITIES 

    (in thousands) 
    Operating 
  
    Years Ended December 31, 
    Leases 
  
    2025 
     2,974 
  
    2026 
     3,351 
  
    2027 
     3,316 
  
    2028 
     3,279 
  
    2029 
     3,115 
  
    Thereafter 
     5,716 
  
    Total minimum lease payments 
     21,751 
  
    Less: amount representing interest 
     (3,115)
  
    Present value of capital lease liabilities 
    $18,636 

11.
COMMITMENTS AND CONTINGENCIES

Purchase
Commitments

During
the quarter ended September 30, 2023, the Company entered into a $9.3
million purchase commitment with a contract manufacturing partner for the production of MOVIA sensor inventory to support direct
sales to both automotive and non-automotive customers. During the quarter ended December 31, 2024, the Company entered into an
additional purchase commitment with the existing contract manufacturing partner of $1.8
million. Remaining future minimum payments of approximately $6.3
million are expected to be made by the Company through 2025 and 2026.

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Litigation

The
Company is subject to various claims and pending or threatened lawsuits in the normal course of business. The Company is not currently
party to any legal proceedings that management believes are reasonably possible to have a material adverse effect on financial position,
results of operations, or cash flows.

12.
COMMON STOCK

In
March 2024, the Company entered into a $150 million ATM equity offering agreement with Deutsche Bank Securities, Inc., Mizuho Securities
USA LLC, and Craig-Hallum Capital Group LLC (collectively, the “Agents”). Under the agreement, the Company is able, with
discretion, to offer and sell shares of common stock having an aggregate value of up to $150.0 million through or directly to the Agents.
As of December 31, 2024, the sale of 23.3 million shares for net proceeds of $34.7 million had been completed. As of December 31, 2024,
approximately $113.6 million is available under this sales agreement, subject to authorized shares available for sale.