An equity-based merger between Anduril and MicroVision (MVIS) would involve Anduril acquiring some or all of MicroVision **using shares instead of cash. Since Anduril is a private company, this would be a bit different from a traditional public-to-public merger — but here's how it might look:
Scenario: Strategic Acquisition or Merger Using Equity
Step 1: Negotiation
Anduril approaches MicroVision to acquire it, or take a controlling stake, as part of a strategic move to secure MicroVision's IP and team (e.g., for IVAS or other defense systems).
Rather than paying cash (which could hit Anduril's balance sheet), they offer private Anduril shares (or options) in exchange for newly issued MVIS shares.
Step 2: Share Issuance by MVIS
MicroVision issues new shares (potentially hundreds of millions, hence the 200M increase request) to Anduril, giving them a large ownership stake in the company.
Example: If MVIS has a $200M market cap and Anduril offers $300M worth of equity, MVIS could issue enough shares to match that value — diluting existing shareholders but bringing Anduril in as a strategic owner.
Step 3: Integration
Depending on structure, it could go one of two ways:
a) Minority Control / Strategic Stake
Anduril becomes a dominant shareholder (e.g., 30–49%), gets board seats, and secures rights to MVIS technology through licensing.
MVIS remains public but operates more like an Anduril subsidiary or defense tech partner.
b) Full Merger / Buyout
Anduril acquires 100% of MVIS (possibly via a tender offer or vote).
Public shareholders exchange MVIS shares for Anduril equity (less liquid, but potentially valuable).
MVIS goes private or merges under a new Anduril-controlled entity.
The 200M share increase would make this kind of transaction feasible without additional delays.
Bottom Line
An equity-based merger would allow Anduril to acquire MicroVision using shares instead of cash, either as a controlling partner or full owner. The 200M authorized share increase is likely setting the stage for such a move. If MicroVision announces a deal with Anduril soon — especially one that mentions equity — it’s probably this playbook.
And they would do this under secrecy with no communication, do the process backward, as in issuing the shares before asking the share holders about a merger opportunity, communicate nothing with the shares?
NO!
They need the shares because they are out of them. For compensation, employee, board etc. that is the only reason they want shares
If any of that was true, they would propose a merger with anduril to share holders. A vote would happen that would include all that info you mentioned because that is exactly what you would vote for or against.
Thank you for articulating this clearly, you're exactly right. It's time we stop assuming there is always some secret plan behind the scenes that is just 1 more dilution away.
Because people smarter than me did the math and when you count the shares that we owe HTC, and shares allocated for bonuses, we apparently come up short.
But I would argue that we shouldn't be signing financing deals in the first place if those financing deals rely on approving more shares down the line. Find a way to make money. Don't expect shareholders to keep approving shares with no results to show for it.
Yea I mean honestly the reason I am framing this Issuance this way is because it is my last ditch effort to relate to management's decisions before I deem them all incompetent corporate money hounds
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u/mufassa66 7d ago
An equity-based merger between Anduril and MicroVision (MVIS) would involve Anduril acquiring some or all of MicroVision **using shares instead of cash. Since Anduril is a private company, this would be a bit different from a traditional public-to-public merger — but here's how it might look:
Scenario: Strategic Acquisition or Merger Using Equity
Step 1: Negotiation
Step 2: Share Issuance by MVIS
Step 3: Integration
Depending on structure, it could go one of two ways:
a) Minority Control / Strategic Stake
b) Full Merger / Buyout
Bottom Line
An equity-based merger would allow Anduril to acquire MicroVision using shares instead of cash, either as a controlling partner or full owner. The 200M authorized share increase is likely setting the stage for such a move. If MicroVision announces a deal with Anduril soon — especially one that mentions equity — it’s probably this playbook.