RestructuringNov 12, 2026, 05:36 PM
MicroVision Terminates Leases, Reduces Obligations by $12.8M
AI Summary
MicroVision, Inc. has entered into a Lease Termination Agreement to end two lease agreements for approximately 53,000 square feet of office and lab space in Redmond, Washington, effective November 30, 2026. This termination is expected to reduce the Company's obligations by approximately $12.8 million. Additionally, the outstanding principal balance on the Company's senior secured convertible notes due March 2028 has been reduced to $7.8 million, an approximately 80% decrease from the original $43.0 million.
Key Highlights
- MicroVision terminates two lease agreements for 53,000 sq ft of office and lab space in Redmond, WA.
- Lease termination effective November 30, 2026, reducing future obligations by approximately $12.8 million.
- Company paid $561,973 cash and forfeited a $915,775 security deposit as part of the termination.
- Aggregate principal balance on senior secured convertible notes due March 2028 reduced to $7.8 million.
- Original principal on convertible notes was $43.0 million at issuance in February 2026.
Price Impact
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