Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 360

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 3
Chunk 360
---
 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  
    $- 

    As of December 31, 2023 

    Corporate debt securities 
    $1,488  
    $(1) 
    $-  
    $-  
     1,488  
     (1)
  
    U.S. Treasury securities 
     1,486  
     -  
     -  
     -  
     1,486  
     - 

    $2,974  
    $(1) 
    $-  
    $-  
    $2,974  
    $(1)

7.
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 limitation.

The
Note will rank senior to all outstanding and future indebtedness of the Company. Beginning on January 1, 2025, the Holder may elect to
require the Company to partially repay the Notes up to $1.8 million monthly prior to April 1, 2025, and up to $3.5 million monthly on
and after April 1