Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 132

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1B
Chunk 132
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 and 2022, the following securities from net loss per share have been excluded as the effect of
including them would have been anti-dilutive: outstanding options exercisable into a total of 0.7 million, 0.8 million, and 0.9 million
shares of common stock, respectively;  12.0 million, 10.0 million and 8.9 million nonvested restricted and performance stock units,
respectively; and 34.6 million shares of common stock that may be issued through conversion of the derivative liability (see
Note 7. Notes Payable and Derivative Liability).

4.
BUSINESS COMBINATION

On
January 31, 2023, the Company completed the acquisition of certain net assets of Ibeo, a lidar hardware and software provider based in
Hamburg, Germany. The purpose of the acquisition was to acquire certain Ibeo assets, primarily intellectual property and personnel, which
enabled the Company to expand their technology and product portfolio and diversify revenue streams.

Total
consideration related to this transaction was approximately EUR 20.0 million or $21.6 million, consisting of approximately (i) EUR 7.0
million or $7.6 million in cash paid at closing, (ii) EUR 6.6 million or $7.1 million in cash advanced to Ibeo prior to closing, (iii)
EUR 3.0 million or $3.3 million released from escrow during the quarter ended March 31, 2024, (iv) EUR 0.6 million or $0.7 million in
costs paid on behalf of the seller, and (v) EUR 2.7 million or approximately $3.0 million after calculating the deduction in purchase
price agreed between both the parties. The remaining balance of approximately EUR 2.7 million was paid during the three months ended
June 30, 2024 and was previously recorded as an accrued liability for Ibeo business combination on the consolidated balance sheet. In
addition, the Company incurred $0.6 million of acquisition-related costs associated with the acquisition during the three months ended
March 31, 2023, which were included in Sales, marketing, general and administrative expense.

    45

The
transaction was accounted for as a business combination. The results of operations for the acquisition are included in the consolidated
financial statements from the date of acquisition onwards.

The
following table