MicroVision clears its Nasdaq bid-price deficiency seven months on, after a 1-for-15 split and a $17m raise at $2.50

by Adam Kowalczyk · August 31, 2026

Filings & Deals Reporter, The MicroCap Herald

MicroVision, Inc. (Nasdaq: MVIS) said on Monday, August 31, 2026 that Nasdaq had notified it the company was again in compliance with the exchange's minimum bid price requirement. The announcement gave August 26, 2026 as the date staff confirmed the position and cited Listing Rule 5550(a)(2), which requires a listed security to maintain a minimum bid price of at least $1 per share. The release said the original notice of non-compliance had been issued on January 12, 2026, and that Nasdaq had concluded the matter was closed.

The announcement carried a statement from Glen DeVos, MicroVision's chief executive, who characterised the outcome as letting the company concentrate on executing its commercial strategy. He did not address the offering, the reverse split or the company's finances in that statement, and the release itself set out no financial information.

The sequence leading up to that confirmation is the part worth setting out, because two of its three steps changed the company's capital structure rather than its business. Only the first of them bears on the bid-price test; the rule turns on the quoted price and nothing else.

Step one: the consolidation

On July 22, 2026 MicroVision announced a 1-for-15 reverse stock split of its common stock, to become effective August 1, 2026, with shares beginning to trade on a split-adjusted basis on August 3. The company said stockholders had approved the action at an annual meeting held July 10, 2026, that holders otherwise entitled to fractional shares would have their holdings rounded up to the nearest whole share, and that the number of authorised shares would fall from 510 million to 150 million. DeVos described the split at the time as a step supporting the company's continued Nasdaq listing while it executed its commercial strategy. A reverse split raises a quoted price arithmetically and leaves market value untouched. Whether it produces compliance depends entirely on where the price sits after the consolidation, over the run of consecutive sessions the rule requires. In MicroVision's case the answer arrived twenty-five days after the split took effect.

Step two: the raise

Between the split and the compliance confirmation, the company sold stock. A prospectus supplement dated August 14, 2026 and accepted by the SEC on August 17 set out an offering of 6,800,000 shares of common stock at $2.50 a share, together with 6,800,000 common warrants issued on a one-for-one basis with the shares. The warrants carry an exercise price of $2.50, a five-year term, and are immediately exercisable. Gross proceeds were $17.0 million and net proceeds after fees approximately $15.6 million. WestPark Capital, Inc. acted as placement agent for a cash commission of 6.5 percent, or $1,105,000, and closing was expected on or about August 17, 2026.

The stated use of proceeds was "[g]eneral corporate purposes, which may include working capital and capital expenditures" — a formulation that does not commit the money to any identified programme.

What the offering did to the share count

The dilution is disclosed in the prospectus supplement itself and should be read before the proceeds figure. The document gives 23,350,027 shares outstanding as of June 30, 2026 and 30,150,027 shares outstanding after the offering, excluding any exercise of the warrants. That is an increase of roughly 29 percent in the common share count from a single transaction. Readers should note the as-of date: June 30 falls a month before the reverse split took effect, and the prospectus supplement as reviewed by this desk does not state in terms whether that count is presented on a split-adjusted basis. Should all 6,800,000 warrants be exercised at $2.50, a further 6,800,000 shares would be issued on top of the 30,150,027. Warrants of this structure are not a forecast of anything; they are a contingent claim on the share count that exists for five years regardless of what the company does.

The prospectus supplement quantified the effect on incoming money as immediate dilution of $1.87 per share to new investors. For the balance sheet, it showed net tangible book value per share rising from $0.14 to $0.63 as a result of the offering. The two figures describe the same transaction from opposite sides: cash raised above tangible book value lifts the per-share book figure for the existing base while leaving buyers at $2.50 holding stock whose tangible backing is a fraction of what they paid.

The risk language the company itself used

The offering document was explicit about its character. It described the securities as involving a high degree of risk, told investors they would experience immediate and substantial dilution, and stated that the company expects to continue to incur significant losses in the near term. Those are the issuer's own characterisations, published in a registered document, and they are the appropriate frame for the compliance announcement that followed.

MicroVision's position as of Monday is therefore specific and limited: one continued-listing deficiency, opened January 12 and closed August 26, has been resolved. The announcement did not describe any other open Nasdaq compliance matter, and made no reference to the company's cash position, its revenue, or its operating outlook. Compliance with Rule 5550(a)(2) is a test of share price and nothing else, and clearing it is not a statement about the business. The company's common stock trades on Nasdaq under the symbol MVIS. Monday's session remained in progress at the time of writing and no closing price exists for it.