Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 19

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 19
---
ORIZED NUMBER OF SHARES OF COMMON STOCK</div>

To enable broadening our go-to-market strategy
and deepening our financial resources, we are asking our shareholders to approve an amendment to our Certificate of Incorporation
to increase our authorized shares of common stock from 310,000,000 shares to 510,000,000 shares. For convenience, throughout the
discussion of this proposal, we refer to this increase in authorized shares as the Share Capital Amendment.

Our Board has approved the Share Capital Amendment,
with implementation subject to approval from our shareholders at the Annual Meeting. If our shareholders approve the Share Capital Amendment,
it will become effective upon the filing of the amendment with the Secretary of State of Delaware. Based on the vote requirement for
this proposal, as described below, we urge MicroVision shareholders to vote in favor of the Share Capital Amendment.

We believe that the Share Capital Amendment is critical
for MicroVision to maintain sufficient liquidity to execute our long-term business strategy, enable efficient and flexible access
to capital markets, and support opportunistic strategic partnerships and arrangements. As we broaden our go-to-market strategy with
a wide range of opportunities in autonomy and mobility, the company requires access to capital and our potential customers and partners
must have confidence in the company’s capital capacity.

In the event that the Share Capital Amendment fails
to receive the required approval from shareholders, MicroVision would be unable to execute its strategic plan as envisioned and would
be at a significant disadvantage amongst competitors that have greater liquidity and access to capital.

Management strongly believes
that approval of this proposal is necessary for MicroVision to deliver on its strategy and remain competitive in the marketplace.

Outstanding Shares and Purpose of the Proposal

As of the Record Date, we had approximately 245.8
million shares of common stock issued and outstanding and approximately 12.9 million shares of common stock reserved for future
issuance under outstanding options, restricted stock units, and performance-based restricted stock units. In addition, approximately
26.3 million have been reserved for issuance pursuant to an outstanding convertible note and warrant. Thus, approximately 22.9
million authorized shares of common stock currently remain available for issuance, including pursuant to our stock incentive plans.

Our Board believes it is in the best interest of MicroVision
and its shareholders to increase the number of authorized shares of common stock to provide flexibility to issue shares of common stock
for general corporate purposes, which could include equity-based financing transactions to support liquidity needs for the execution of
our business strategy in the long term