Business
Innovative Eyewear, Inc. Announces Exercise of Warrants for $1.8 Million Gross Proceeds
Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (Nasdaq: LUCY), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase an aggregate of 601,686 shares of the Company's common stock originally issued by the Company on September 4, 2024 and September 24, 2024, having original exercise prices of $5.00 and $9.50 per share, re
About this update from Innovative Eyewear, Inc.
[{"type":"text","content":"MIAMI, April 11, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (Nasdaq: LUCY), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase an aggregate of 601,686 shares of the Company's common stock originally issued by the Company on September 4, 2024 and September 24, 2024, having original exercise prices of $5.00 and $9.50 per share, respectively, at a reduced exercise price of $2.60 per share. The closing of the warrant exercise transaction is expected to occur on or about April 14, 2025, subject to satisfaction of customary closing conditions.","length":780,"tagName":"p"},{"type":"image","alt":"Innovative Eyewear Logo (PRNewsfoto/Innovative Eyewear, Inc.)","displaySize":"","headline":null,"caption":"Innovative Eyewear Logo (PRNewsfoto/Innovative Eyewear, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":400,"url":"https://media.zenfs.com/en/prnewswire.com/efde4bdbcb6dbac05949e953f099ca4b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/qjcZegHf4LJR8m9rKz9Tlg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/efde4bdbcb6dbac05949e953f099ca4b","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/2496921/Innovative_Eyewear_Inc_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.","length":86,"tagName":"p"},{"type":"text","content":"The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1, as amended (File No. 333-282472).","length":175,"tagName":"p"},{"type":"text","content":"The gross proceeds to the Company from the exercise of the warrants are expected to be approximately $1.8 million, prior to deducting placement agent fees and offering expenses. The Company expects to use the net proceeds from the transaction for working capital and general corporate purposes.","length":294,"tagName":"p"},{"type":"text","content":"In consideration for the immediate exercise of the warrants for cash, the Company will issue new ...