secwatch.observer — SEC 8-K summary
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Issuer:     MICROVISION, INC. (MVIS)
CIK:        0000065770
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001493152-24-041008
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MicroVision secures $75M senior secured convertible note facility with High Trail Capital
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- Initial $45M closing with option to draw additional $30M; zero coupon, matures Oct 1, 2026.
- Conversion price set at $1.596/share; holder may redeem at 110% of face starting Jan 2025.
- Proceeds extend runway through 2026; Q3 cash $43M, pro forma ~$81M after first tranche.
- Company has right to force conversion if stock closes at ≥150% of conversion price for 20 days.
- Stockholder approval required for conversion exceeding 42.7M shares under Nasdaq Rule 5635(d).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65770/000149315224041008/0001493152-24-041008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65770/000149315224041008/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041008

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