Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 21

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 21
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 two largest proxy advisory firms indicate that they would likely approve of a doubling of MicroVision’s authorized capital,
thus allowing for an increase of 310 million shares. However, following a thorough analysis of the company’s capital stock requirements,
considering the key factors enumerated above, and a careful balancing of the interests of all MicroVision shareholders, the Board and
management determined that the increase proposed in the Share Capital Amendment would be limited to 200 million, a much smaller
increase than the institutional and proxy advisory firm guidelines would have permitted.

Although we expect to require raising additional capital to fund our operations in the long term, which may involve the issuance of common stock, there is currently no transaction pending. We have no specific plan, commitment, arrangement, understanding or agreement, either oral or written, regarding the issuance of common stock subsequent to this proposed increase in the number of authorized shares at this time, and we have not allocated any specific portion of the proposed increase in the authorized number of shares to any particular purpose. Approval of this proposal will provide the company with important flexibility to pursue the best opportunities to maximize shareholder value.

Effects of the Increase in Authorized Common Stock

Approving the amendment to increase the authorized
number of shares of MicroVision common stock will not result in any dilution to current shareholders unless we issue such additional shares
in the future. With analysis and recommendations from management and our external proxy advisor, our Board approved the size of the proposed
increase to provide sufficient authorized shares for use for any of the purposes described above, including any necessary financing transactions,
as well as to provide the ability to take advantage of other opportunities that may be available to the company that would require the
use of shares of common stock without the cost and time that would be needed to seek further amendments to its Certificate of Incorporation.

If this proposal is approved, the newly authorized
shares of common stock would have the same rights as the presently authorized shares, including the right to cast one vote per share of
common stock. Although the authorization of additional shares would not, in itself, have any effect on the rights of any holder of MicroVision
common stock, the future issuance of additional shares of common stock (other than a stock split or dividend) would have the effect of
diluting existing voting rights and could have the effect of diluting earnings per share and book value per share of existing shareholders.

The Share Capital Amendment will not affect the number
of shares of Preferred Stock authorized, which is 25,000,000 shares of Preferred Stock,