My email to fellow shareholders regarding the upcoming Special Meeting- Proxy Vote
I thought this deserved it’s own post. I have a list of 30+ shareholders that I encouraged to buy MVIS stock over the years. In total, we hold over 4 million shares. I am the single largest shareholder in the group. My email to them this morning:
Fellow MVIS Shareholders, You should receive soon, or have already received this morning, an email from your brokerage firm regarding a Microvision Inc. Special Meeting and Proxy Vote called for October 8th, 2020. Please open this email(s) and vote the proxy on proposals 1 and 2. I encourage you to vote "FOR" on both proposals. Do it as soon as possible. It takes only a few seconds to place your votes. There is a personal control number (not the cusip #) somewhere in the body of the communication that you may need to place your votes.
I was recently involved in a Zoom-like fireside chat with CEO Sumit Sharma and CFO Steve Holt that lasted 2 hours and 45 minutes. There were 6 retail investors that attended the chat. Although the proxy was discussed at length, it was an open discussion primarily focused on the overall process of selling the company. They addressed shareholder concerns that had been communicated to the company via IR as well as our own questions and concerns. We all concluded that the authorization of the 60 million shares they asking us to approve will NOT be used for general corporate purposes. They will need these shares for leverage in negotiations and/or to execute a sale of the company to a single buyer (which is preferred due to the ease of the sale process) or by vertical(s) to multiple tier-one OEM’s or large technology companies. Whatever brings the MOST VALUE to shareholders will guide their decision-making.
I will stick my neck out and give you my thoughts on the sale process:
- They are selling the company. They will not be using these authorized shares for general corporate purposes to keep the lights on.
- They have narrowed the interested parties down to a handful of "tier-one OEM's and large technology companies" (their words).
- The sale price will be greater than the present market value of the company.
I have asked you to have patience since you became a shareholder. I ask that you continue to have patience as they negotiate a sale of the company, There is tremendous intrinsic value in the company that is not reflected in today's share price. That I am certain about.
Below is a link to the SEC filing regarding the Special Meeting called for October 8th.
Things are getting very exciting. Go ahead and vote now.
Link to company info on Special Meeting: https://microvision.gcs-web.com/shareholder-voting-2020-special-meeting
Posted Aug 27, 2020, 5:19 PM UTC