Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 60

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 60
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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 summarizes the final purchase price allocation to assets acquired and liabilities assumed (in thousands):

SCHEDULE OF PURCHASE PRICE
ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED

    Weighted Average 

    Amount  
    Useful Life (in years) 
  
    Total purchase consideration 
    $21,611  

    Inventory 
    $1,197  

    Other current assets 
     703  

    Operating lease right-of-use assets 
     234  

    Property and equipment, net 
     5,330  

    Intangible assets: 

    Acquired technology(1) 
     17,987  
     13 
  
    Order backlog 
     26  
     1 
  
    Contract liabilities 
     (1,178) 

    Operating lease liabilities 
     (234) 

    Deferred tax liabilities 
     (785) 

    Total identifiable net assets 
    $23,280  

    Bargain purchase gain(2) 
     (1,669) 

(1)During
                                            the year ended December 31, 2024, the Company recognized a $4.2 million impairment charge
                                            on certain identified intangible assets acquired in this business combination. See Note 8.
                                            Financial Statement Components.

(2)The
                                            bargain purchase gain represents the excess of the fair value of the underlying net assets
                                            acquired and liabilities assumed over the purchase consideration and is included in bargain
                                            purchase gain, net of tax in the consolidated statements of operations. The bargain purchase