Innovative Eyewear, Inc. Announces Exercise of Warrants for $2.6 Million Gross Proceeds
Innovative Eyewear, Inc. (Nasdaq: LUCY), developer of smart eyewear under Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, announced agreements for the immediate exercise of warrants to purchase 263,160 shares of common stock. The exercise price is $9.875 per share, up from the original $9.50. This transaction is expected to generate $2.6 million in gross proceeds for working capital and general corporate purposes.
In exchange, the company will issue new unregistered Series E and F warrants. Series E warrants allow purchase of up to 263,160 shares, expiring in 5 years, while Series F warrants cover up to 526,320 shares, expiring in 18 months. Both new warrant series have an exercise price of $9.50 per share. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering.
Innovative Eyewear, Inc. (Nasdaq: LUCY), sviluppatore di occhiali intelligenti con i marchi Lucyd®, Nautica®, Eddie Bauer® e Reebok®, ha annunciato accordi per l'esercizio immediato di warrant per l'acquisto di 263.160 azioni di azioni ordinarie. Il prezzo di esercizio è di $9,875 per azione, rispetto agli originari $9,50. Questa transazione dovrebbe generare $2,6 milioni in proventi lordi per il capitale circolante e per scopi aziendali generali.
In cambio, la società emetterà nuovi warrant di Serie E e F non registrati. I warrant di Serie E consentono l'acquisto di fino a 263.160 azioni, con scadenza tra 5 anni, mentre i warrant di Serie F coprono fino a 526.320 azioni, con scadenza tra 18 mesi. Entrambe le nuove serie di warrant hanno un prezzo di esercizio di $9,50 per azione. H.C. Wainwright & Co. sta agendo come l'agente di collocamento esclusivo per questa offerta.
Innovative Eyewear, Inc. (Nasdaq: LUCY), desarrollador de gafas inteligentes bajo las marcas Lucyd®, Nautica®, Eddie Bauer® y Reebok®, anunció acuerdos para el ejercicio inmediato de warrants para comprar 263,160 acciones de acciones ordinarias. El precio de ejercicio es de $9.875 por acción, un aumento respecto al original de $9.50. Se espera que esta transacción genere $2.6 millones en ingresos brutos para capital de trabajo y propósitos corporativos generales.
A cambio, la compañía emitirá nuevos warrants de las Series E y F no registrados. Los warrants de la Serie E permiten la compra de hasta 263,160 acciones, con una expiración en 5 años, mientras que los warrants de la Serie F cubren hasta 526,320 acciones, con una expiración en 18 meses. Ambas nuevas series de warrants tienen un precio de ejercicio de $9.50 por acción. H.C. Wainwright & Co. actúa como el agente de colocación exclusivo para esta oferta.
Innovative Eyewear, Inc. (Nasdaq: LUCY)는 Lucyd®, Nautica®, Eddie Bauer® 및 Reebok® 브랜드 하에 스마트 안경을 개발하는 회사로, 263,160주의 보통주를 구매할 수 있는 워런트의 즉각적인 행사를 위한 계약을 발표했습니다. 행사가격은 $9.875 per share로, 원래의 $9.50에서 상승하였습니다. 이번 거래는 $2.6 million in gross proceeds를 생성할 것으로 예상되며, 이는 운영 자본 및 일반 기업 목적에 사용될 것입니다.
대가로 회사는 새로운 비등록 E 및 F 시리즈 워런트를 발행합니다. E 시리즈 워런트는 263,160주까지 구매할 수 있으며, 5년 후에 만료됩니다. F 시리즈 워런트는 526,320주를 커버하며, 18개월 후에 만료됩니다. 두 새로운 워런트 시리즈 모두 행사가격은 $9.50 per share입니다. H.C. Wainwright & Co.는 이 제안의 독점 배급 에이전트로 활동하고 있습니다.
Innovative Eyewear, Inc. (Nasdaq: LUCY), développeur de lunettes intelligentes sous les marques Lucyd®, Nautica®, Eddie Bauer® et Reebok®, a annoncé des contrats pour l'exercice immédiat de bons de souscription pour l'achat de 263.160 actions ordinaires. Le prix d'exercice est de $9,875 par action, en hausse par rapport à l'original de $9,50. Cette opération devrait générer $2,6 millions de produits bruts pour le fonds de roulement et les besoins généraux de l'entreprise.
En contrepartie, la société émettra de nouveaux bons de souscription Series E et F non enregistrés. Les bons de souscription de la série E permettent d'acheter jusqu'à 263.160 actions, avec une expiration dans 5 ans, tandis que les bons de souscription de la série F couvrent jusqu'à 526.320 actions, avec une expiration dans 18 mois. Les deux nouvelles séries de bons de souscription ont un prix d'exercice de $9,50 par action. H.C. Wainwright & Co. agit en tant qu'agent de placement exclusif pour cette offre.
Innovative Eyewear, Inc. (Nasdaq: LUCY), Entwickler von Smart Eyewear unter den Marken Lucyd®, Nautica®, Eddie Bauer® und Reebok®, gab Vereinbarungen für die sofortige Ausübung von Warrants bekannt, um 263.160 Aktien des Stammkapitals zu kaufen. Der Ausübungspreis beträgt $9.875 pro Aktie, im Vergleich zu den ursprünglichen $9,50. Diese Transaktion wird voraussichtlich $2,6 Millionen an Bruttoerlösen für Betriebskapital und allgemeine Unternehmenszwecke generieren.
Im Gegenzug wird das Unternehmen neue, nicht registrierte Warrants der Serien E und F ausgeben. Die Warrants der Serie E erlauben den Kauf von bis zu 263.160 Aktien, die in 5 Jahren ablaufen, während die Warrants der Serie F bis zu 526.320 Aktien abdecken, die in 18 Monaten ablaufen. Beide neuen Warrants haben einen Ausübungspreis von $9.50 pro Aktie. H.C. Wainwright & Co. fungiert als exklusiver Platzierungsagent für dieses Angebot.
- Immediate exercise of warrants generating $2.6 million in gross proceeds
- Increased exercise price from $9.50 to $9.875 per share
- Issuance of new Series E and F warrants with potential for additional capital
- Potential dilution of existing shareholders due to issuance of new shares and warrants
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (File No. 333-279873).
The gross proceeds to the Company from the exercise of the warrants are expected to be approximately
In consideration for the immediate exercise of the warrants for cash, the Company will issue new unregistered Series E warrants to purchase up to an aggregate of 263,160 shares of common stock and new unregistered Series F warrants to purchase up to an aggregate of 526,320 shares of common stock. The new Series E and Series F warrants will have an exercise price of
The new warrants described above are being offered in a private placement and, along with the shares of common stock issuable upon exercise of the new warrants, have not been registered under the Securities Act of 1933, as amended (the "1933 Act"), or applicable state securities laws. Accordingly, the new warrants and shares of common stock issuable upon the exercise of the new warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the 1933 Act and such applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission ("SEC") as soon as practicable and within 30 days covering the resale of the shares of common stock issuable upon exercise of the new warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Forward Looking Statements
This press release contains certain forward-looking statements, including but not limited to, those relating to the satisfaction of customary closing conditions, the intended use of proceeds from the offering, the anticipated closing of the offering and the planned launch of the Company's new product lines. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, market and other conditions, and other factors and risks identified from time to time in the Company's filings with the SEC, including its annual report on Form 10-K under the caption "Risk Factors" filed with the SEC on March 25, 2024.
Investor Relations Contact:
Innovative Eyewear, Inc.
Scott Powell
Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
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SOURCE Innovative Eyewear, Inc.
FAQ
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