Tekcapital plc Portfolio Company Lucyd Update (2240U)
01 April 2021 - 5:00PM
UK Regulatory
TIDMTEK
RNS Number : 2240U
Tekcapital plc
01 April 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
1 April 2021
Portfolio Company Update: Lucyd Ltd.
Lucyd Ltd Crowdfund Fully Subscribed with 3,800 Investors
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual
property investment group focused on investing in new,
university-developed discoveries that can enhance people's lives,
is pleased to announce that portfolio company Lucyd Ltd has closed
its fully-subscribed Regulation Crowdfund. The crowdfund, conducted
by Lucyd's U.S. subsidiary Innovative Eyewear, Inc., attracted
3,800 investors who contributed $1,070,000. This was the maximum
allowable amount for this type of equity offering.
The crowdfunding round was beneficial to Lucyd, by introducing
the Lucyd brand to thousands of new individuals, funding Lucyd
Lyte(TM) e-glasses and Vyrb(TM) app development, and providing
Lucyd with a large community for beta testing of its new
products.
In addition, Lucyd has just been granted a utility patent from
the United States Patent and Trademark Office, for a software
system designed to manage multiple wearables and IOT devices. This
technology, combined with Lucyd's patent-pending e-glasses,
enhances the company's intellectual property position in the
emerging wearables market.
Harrison Gross, Lucyd co-founder and CEO said, "We are very
pleased to report that our crowdfund was successful. The results
clearly demonstrate a strong investor appetite for the Lucyd brand
and confidence in the growth of our market position. This effort
provided us with a strong contingent of brand advocates, customers
and affiliates who support Lucyd on an ongoing basis. With 3,800+
new shareholders, we are better positioned than ever to bring smart
eyewear mainstream."
About Lucyd and Innovative Eyewear Inc.
Lucyd's mission is to Upgrade your Eyewear(R) with advanced
ergonomic frames that are easy to use, fun to wear, and help you
stay safely connected to your digital life. The Lucyd brand and IP
portfolio are exclusively licensed to and operated by Innovative
Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit
https://lucyd.co .
Tekcapital currently owns 100% of the share capital of Lucyd Ltd
and approximately 75% of the share capital of its operating
subsidiary, Innovative Eyewear, Inc. Post-money valuation of
Innovative Eyewear of U$4.82m results in valuation of shares held
by Lucyd Ltd at US$3.62m.
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com .
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Lucyd or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital or Lucyd's
management. Please note that these are subject to a number of
risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these
risks or uncertainties materialize, or should underlying
expectations not occur or assumptions prove incorrect, actual
results, performance or achievements of Lucyd and/or Tekcapital may
vary materially from those described explicitly or implicitly in
the relevant forward-looking statement. Neither Lucyd nor
Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which
differ from those anticipated.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PFUFFFSLVSILVIL
(END) Dow Jones Newswires
April 01, 2021 02:00 ET (06:00 GMT)
Tekcapital (LSE:TEK)
Historical Stock Chart
From Apr 2024 to May 2024
Tekcapital (LSE:TEK)
Historical Stock Chart
From May 2023 to May 2024