Kopin Announces Pricing of Public Offering
Kopin Corporation (NASDAQ: KOPN) has priced an underwritten public offering of 14 million shares of common stock at $1.00 each, along with pre-funded warrants for 6 million shares at $0.99 each. The offering could generate approximately $19.9 million in gross proceeds, intended for working capital and general corporate purposes. A 30-day option for the underwriter to purchase an additional 3 million shares has been granted. The offering is expected to close on January 27, 2023, subject to customary conditions. Stifel is the sole book-running manager for the offering.
- The offering generates approximately $19.9 million in gross proceeds.
- Funds intended for working capital and general corporate purposes could enhance operational flexibility.
- The offering could lead to dilution of existing shareholders' equity.
- Market perception may negatively impact stock performance due to increased share supply.
The aggregate gross proceeds from the Offering will be approximately
Stifel is acting as sole book running manager in connection with the public offering.
This offering is being made only by means of a prospectus supplement and accompanying base prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s ordinary shares or any other securities, and there shall not be any offer, solicitation, or sale of securities mentioned in this press release in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such any state or jurisdiction.
About Kopin
Forward-Looking Statements
Statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. Words such as “intends,” “expects,” “believes,” “can,” “will,” and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. These forward-looking statements include statements about the offering and Kopin’s intended use of proceeds generated from the offering. We caution readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended
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Kopin Investor Relations
CFO
rsneider@kopin.com
OR
JHorne@marketstreetpartners.com
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