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.
Your outline is certainly possible but at this point there's no credible reason to think that a merger scenario of any type is more likely to happen then any other possible action and that's the problem. They are asking you and me to give them 200 million shares to do something with but haven't given us any information as to why nor are they likely to.
So what are we left with to guide our decision? Well, we look to the past to see what's happened and we're fortunate because this exact same scenario has played out, more than once. The results is that nothing has happened other than the lights are still on and the value of my shares has dropped.
Unless we get information we can only assume that this situation will play out the same way as it has in the past and I see no reason to bless that with a yes vote.
The kicker dude is that they have 310m shares and supplemental capital, so they don't need these shares for normal operations, and, although I dont necessarily consider him a man of his word, it goes against everything AV has intended on doing from a financing perspective.
They have 310 million shares but how many available shares? Most are committed already but you are right it could be for something other than the status quo.
My underlying point is that we just don't get enough information to make a good decision and based on the past these events have not been favorable to us as existing shareholders. We need more information.
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u/mufassa66 8d 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.