MIAMI, June 26,
2023 /PRNewswire/ -- Innovative Eyewear Inc.
("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW),
the developer and retailer of smart eyewear under the Lucyd® brand,
and licensee of the Nautica®, Eddie Bauer® and Reebok®
brands, today announced the closing of its previously
announced public offering of 4,500,000 units, with each unit
consisting of one share of common stock and one warrant to purchase
one share of common stock. Each unit was sold at a public offering
price of $1.05. The warrants in each
unit are immediately exercisable at a price of $1.05 per share and will expire five years from
the date of issuance. The shares of common stock and the
accompanying warrants were only purchasable together in this
offering but were not issued separately and were immediately
separable upon issuance.
Gross proceeds, before deducting placement agent fees and
estimated offering expenses, were approximately $4.7 million.
Maxim Group LLC acted as sole placement agent in connection with
this offering.
The securities described above were offered pursuant to a
registration statement on Form S-1, as amended (File No.
333-272737) (the "Registration Statement"), which was declared
effective by the Securities and Exchange Commission (the "SEC") on
June 21, 2023. The offering was made
only by means of a prospectus which is a part of the Registration
Statement. A copy of the final prospectus relating to the offering
has been filed with the SEC and may be obtained from Maxim Group
LLC, 300 Park Avenue, 16th Floor, New
York, NY 10022, at (212) 895-3745.
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 and retailer of cutting-edge
smart eyewear, under the Lucyd® brand, and licensee of the
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.
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.
These forward-looking statements include, but are not limited to,
statements regarding the intended use of proceeds from the
offering. 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 under
applicable law. Important factors that could cause actual results
to differ materially from those in the forward-looking statements
are set forth in the preliminary prospectus related to the public
offering filed with the Securities and Exchange Commission, under
the caption "Risk Factors."
Investor Relations Contact:
Scott Powell
Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
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SOURCE Innovative Eyewear, Inc.