Company: MVIS
Filing Date: 2025-02-03
Form Type: 8-K
Source: 0001493152-25-004615
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Company: MICROVISION, INC.
Filing Date: 2025-02-03
Form: 8-K
Item: Item 1.01
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Item
1.01. Entry into a Material Definitive Agreement.

Letter
Agreement

As
previously reported, on October 14, 2024, MicroVision, Inc. (the “ Company”) entered
into a Securities Purchase Agreement with High Trail Special Situations LLC (the “ Investor”) pursuant to which the Company
issued senior secured convertible notes. On February 3, 2025, the Company entered into a Letter Agreement with
the Investor (the “ Letter Agreement”) pursuant to which the Investor elected to receive Partial Redemption Payments for the
total aggregate amount of $11,550,000 with respect to Partial Redemption Dates for June 1, 2025, July 1, 2025 and August 1, 2025, and
to defer such Partial Redemption Payments to subsequent Partial Redemption Payments Dates beginning on September 1, 2025 and ending on
March 1, 2026. Furthermore, the Investor has agreed to convert $2,750,000 of the currently outstanding Initial Principal Amount,
and to use commercially reasonable efforts to convert the remaining $5,975,000 of the currently outstanding Initial Principal
Amount by March 15, 2025, or as soon as possible thereafter, but subject to their Beneficial Ownership Limitation set forth in
the Convertible Note. Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Convertible
Note.

The
above description of the Letter Agreement does not purport to be complete and is qualified in its entirety by the complete text of such
agreement, a form of which is filed as Exhibit 10.1, and incorporated herein by reference.

The
terms and conditions of the Convertible Note and the agreements, instruments and documents entered into in connection with the Convertible
Note are further described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October
15, 2024.

Registered
Direct Offering

Securities
Purchase Agreement

On
February 3, 2025, the Company entered into a Securities Purchase Agreement (the “ Purchase Agreement”) with the Investor,
pursuant to which the Company agreed to issue and sell to the Investor 5,750,225 shares of the Company’s common stock, par
value $0.001 per share (the “ Shares”) and warrants to purchase up to 5,750,225 shares of our common stock (the “ Warrants,”
and together with