Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 174

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 174
---
 $38.1 million.
                                                                                                                                      
●In
                                            March 2024, we entered into a $150.0 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, we are able, at our discretion, to offer
                                            and sell shares of our common stock having an aggregate value of up to $150.0 million through
                                            or directly to the Agents. As of September 30, 2025, we completed sales under such sales
                                            agreement of 77.6 million shares for net proceeds of $99.9 million. As of September 30, 2025,
                                            we had approximately $46.2 million available under this sales agreement.

27

ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Interest
Rate and Market Liquidity Risk

As
of September 30, 2025, all of our cash and cash equivalents have variable interest rates; however, we believe our exposure to market
and interest rate risks is not material. Due to the generally short-term maturities of our investment securities, we believe that the
market risk arising from our holdings of these financial instruments is not significant. We do not believe that inflation has had a material
effect on our business, financial condition or results of operations; however, we do anticipate our labor costs to increase as a result
of inflationary pressures. In the current macroeconomic environment, interests rate changes are unpredictable and inflationary pressures
uncertain.

Our
investment policy generally directs that the investment managers should select investments to achieve the following goals: principal
preservation, adequate liquidity, and return. As of September 30, 2025, our cash and cash equivalents are comprised of short-term highly
rated (A rated securities and above) money market savings accounts and our short-term investments are comprised of highly rated corporate
and government debt securities (A rated securities and above). The values of cash and cash equivalents and investment securities, available-for-sale
as of September 30, 2025, are as follows (in thousands):

    (in thousands) 
    Amount  
    Percent 
  
    Cash and cash equivalents 
    $72,832  
     73.2%
  
    Less than one year 
     26,676  
     26.8%

    $99,508