MicroVision, Inc., the pure-play automotive and industrial lidar maker that trades on The Nasdaq Global Market under the symbol MVIS, filed a prospectus supplement on June 24, 2026 registering the sale of common stock with an aggregate offering price of up to $42 million. The filing, made under Rule 424(b)(5) against registration statement No. 333-296749, sets up an at-the-market (ATM) program: shares are sold from time to time into the open market rather than in a single underwritten block at a fixed price.

The mechanics run through a sales agreement the company entered with Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Craig-Hallum Capital Group LLC on March 5, 2024, as amended on June 12, 2026. That underlying agreement relates to the sale of up to $150,000,000 of common stock; this particular supplement registers up to $42 million of that capacity. The filing states that sales "may be made in sales deemed to be 'at the market' equity offerings as defined in Rule 415" of the Securities Act, including sales made directly on or through The Nasdaq Global Market.

An ATM program is structured to dribble stock into the market over time as the issuer chooses, rather than commit to a defined raise on a set date. The filing makes the discretionary nature explicit on both sides: it notes the sales agents "are not required to sell a certain number of shares or dollar amount of our common stock" and will use commercially reasonable efforts to sell shares on the company's behalf. The use of proceeds is stated in general terms.

We currently intend to use the net proceeds from this offering, if any, for general corporate purposes, which may include, but are not limited to, working capital and capital expenditures.

The supplement anchors its share-count math to a reference price. It notes that on June 11, 2026, the last reported sale price of MicroVision's common stock on The Nasdaq Global Market was $0.36 per share. The number of shares outstanding after the offering is calculated from 344,645,965 shares outstanding as of May 28, 2026; the cover's offering table assumes the sale of 116,666,666 shares at an assumed $0.36 price, which would bring shares outstanding to as much as 461,312,631.

Because an ATM sells new shares into the float over time, the filing addresses dilution directly. It discloses that, based on an assumed public offering price of $0.36 per share and the company's net tangible book value as of December 31, 2025, an investor purchasing in the offering "will suffer immediate and substantial dilution of $0.13 per share with respect to the net tangible book value of the common stock." The risk-factor language adds that purchasers may experience further dilution if the company issues additional equity in future fundraising.

The supplement also carries financial-statement disclosure incorporated by reference. It notes that the independent auditor's report on certain carved-out and combined financial statements "expresses an unmodified opinion and includes emphasis of matter paragraphs relating to a going concern uncertainty and bankruptcy-related debt accounting."

For a lidar developer, an ATM is a standard mechanism for raising capital incrementally rather than through a single underwritten round. The filing itself states the offering's terms: an aggregate cap of up to $42 million against a $150 million master sales agreement, three named sales agents acting on a best-efforts basis, general corporate purposes as the use of proceeds, a $0.36 recent-price reference, and the per-share dilution and going-concern language quoted above. Whether and how much stock is actually sold under the program is left to the company's discretion over the life of the agreement.