MicroVision Regains Compliance with Nasdaq Market Value Listing Requirement

REDMOND, Wash., May 27, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (Nasdaq:MVIS) announced that it has received a letter from Nasdaq on May 26, 2020 confirming that as of May 22, 2020 the company has regained compliance with Nasdaq’s market value listing requirement. 

MicroVision was notified on April 8, 2020 that it had failed to meet the market value requirement under Nasdaq Stock Market Listing Rule 5450(b)(2)(A). MicroVision was notified today that it is now in compliance with the rule and that Nasdaq considers the matter closed.

As previously announced, the company is not currently in compliance with the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Global Market pursuant to Nasdaq’s listing requirements and has until August 24, 2020 to regain compliance with this requirement. The failure to regain compliance with the minimum bid price requirement prior to the deadline may cause the company’s securities to be subject to delisting.

The company is monitoring the bid price of its listed common stock. The company continues to execute its business plan and will consider other actions that it may take in order to regain compliance with the listing requirements.

About MicroVision

MicroVision is the creator of PicoP scanning technology, an ultra-miniature sensing and projection solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this sensing and display solution means that its technology can be adapted to a wide array of applications and form factors. We combine our hardware, software, and algorithms to unlock value for our customers by providing them a differentiated advanced solution for a rapidly evolving, always-on world.

Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Washington.

For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/microvisioninc or follow MicroVision on Twitter at @MicroVision.

MicroVision and PicoP are registered trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.