Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 46

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 $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 June 30, 2025, we completed sales under such sales agreement
                                            of 54.8 million shares for net proceeds of $70.7 million. As of June 30, 2025, we had approximately
                                            $76.5 million available under this sales agreement.

ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Interest
Rate and Market Liquidity Risk

As
of June 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 June 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 June 30, 2025, are as follows (in thousands):

    (in thousands) 
    Amount  
    Percent 
  
    Cash and cash equivalents 
    $74,094  
     81.1%
  
    Less than one year 
     17,313  
     18.9%

    $91,407