Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 233

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 233
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. Last, on February 21, 2025, the Holder converted $4.0
million of outstanding principal into 5,360,154
shares of common stock pursuant to terms of the Note, thereby converting the entirety of the remaining Initial Outstanding
Principal.

Additionally,
as a result of the Letter Agreement, the Holder agreed to defer $11.6 million of principal repayments to 7 monthly payments of $1.7 million
beginning on September 1, 2025 and concluding on March 1, 2026. As of the date of these financial statements are available to be issued,
maturities of partial repayments as a result of the Letter Agreement are as follows:

SCHEDULE
OF MATURITIES PARTIAL REPAYMENTS 

    (in thousands) 

    Years Ended December 31, 
    Maturities 
  
    2025 
    $22,000 
  
    2026 
     14,025 
  
    Total partial repayments 
    $36,025 

On
February 3, 2025, the Company entered into a new Securities Purchase Agreement (the “2025 Purchase Agreement”) with the Holder.
In exchange for $8.0 million, the Holder agreed to purchase up to 5,750,225 shares of common stock and warrants to purchase up to 5,750,225
shares of common stock at an exercise price of $1.57 per share. On February 4, 2025, the 2025 Purchase Agreement closed for net proceeds
of approximately $7.8 million, inclusive of initial fees and expenses related to the transaction.

59

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

There
have been no changes in or disagreements with accountants on accounting or financial disclosure matters during our fiscal years ended
December 31, 2024, 2023 and 2022.

ITEM
9A. CONTROLS AND PROCEDURES 

(a) Evaluation of Disclosure Controls and Procedures. Our Chief Executive Officer (CEO) and the Chief Financial Officer (CFO)
evaluated our disclosure controls and procedures (as defined in Rules 13a-15(e)) under the Securities and Exchange Act of 1934, as amended
(the “Exchange Act”), prior to the filing of this Form 10-K. Based upon that evaluation, our CEO and CFO concluded that,
as of December