Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 81

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 81
---
  
       
    Gross  
       
    Gross 

    Fair  
    Unrealized  
    Fair  
    Unrealized  
    Fair  
    Unrealized 

    Value  
    Losses  
    Value  
    Losses  
    Value  
    Losses 
  
    As
    of December 31, 2024 

    Corporate
    debt securities 
    $1,245  
    $       -  
    $       -  
    $       -  
    $1,245  
    $       - 
  
    U.S.
    Treasury securities 
     -  
     -  
     -  
     -  
     -  
     - 

    $1,245  
    $-  
    $-  
    $-  
    $1,245  
    $- 

6.
NOTES PAYABLE AND DERIVATIVE LIABILITY

Background

On
October 14, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) for the purchase of
senior secured convertible notes (the “Note”) with an institutional investor (the “Holder”). The principal amount
for the initial note is $45.0 million (the “Initial Principal Amount”), with an option for the Company to issue additional
principal in the amount of $30.0 million (the “Additional Principal Amount” and, together with the Initial Principal Amount,
the “Principal Amount”) of convertible notes to the Holder, subject to certain limitations. On October 23, 2024, the Purchase
Agreement closed and the Note was issued for net proceeds of approximately $38.1 million, inclusive of all discounts, fees, and expenses
related to the transaction.

On
December 30, 2024, pursuant to the terms of the Note, the Holder elected to convert $1.8 million of outstanding principal into 2,345,068
shares of the Company’s common stock.

On
February 3, 2025, the Company entered into a Letter Agreement with the Holder related to the Note. As a result of the Letter Agreement,
the Holder elected to early convert $8.8 million of outstanding principal into 11,725,337 shares of the Company’s common stock.
Additionally, as a result of the Letter Agreement, the Holder