Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 506

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4A
Chunk 506
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4, conversions reduced the amount repayable at maturity to $47.6 million.

Supplemental
balance sheet information is as follows:

SCHEDULE
OF SUPPLEMENT BALANCE SHEET

    (in thousands) 
    2024  
    2023 

    Year Ended December 31, 
  
    (in thousands) 
    2024  
    2023 
  
    Amount repayable at maturity 
    $47,575  
    $- 
  
    Unamortized debt discount 
     (12,021) 
     - 
  
    Unamortized issuance costs 
     (2,552) 
     - 
  
    Net carrying amount 
     33,002  
     - 

Interest
expense related to the amortization of the debt discount and issuance costs was $4.4 million for the year ended December 31, 2024, and
$0.0 million for the year ended December 31, 2023. The monthly effective interest rate implicit in the Note as of December 31, 2024 under
the interest method was 5.1%.

Maturities
of partial repayments, if elected by the Holder, are as follows:

 SCHEDULE OF MATURITIES LONG TERM DEBT

    (in thousands) 

    Years Ended December 31, 
    Maturities 
  
    2025 
    $38,500 
  
    2026 
     9,075 
  
    Total partial repayments 
    $47,575 

Subsequent
to December 31, 2024, the partial repayment amounts and maturity schedule were modified (see Note 16. Subsequent Events).

Derivative
Liability

The
derivative liability was initially recorded at its fair value of $7.5 million as of the issuance date of October 23, 2024. The derivative
liability is subsequently remeasured and reported at fair value each reporting period, with the changes in fair value recorded as an
unrealized gain or loss and recognized in earnings.

The
fair value of derivatives not designated as hedging instruments are as follows:

 SCHEDULE
OF DERIVATIVES INSTRUMENTS

    (in thousands) 
    2024  
    2023 

    Year Ended December 31, 
  
    (in thousands) 
    2024