Innovative Eyewear Announced Agreements For The Immediate Exercise Of Warrants For 126,699 Shares Of Common Stock At A Reduced Price Of $5/Share, Expecting Gross Proceeds Of ~$633,495 For Working Capital And General Corporate Purposes, Alongside Issuing New Series A And B Warrants Exercisable At $5/Share

Author: Benzinga Newsdesk | September 03, 2024 08:50am

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 126,699  shares of the Company's common stock originally issued by the Company on June 26, 2023, each having an original exercise price of $21.00 per share, at a reduced exercise price of $5.00 per share. The closing of the warrant exercise transaction is expected to occur on or about September 4, 2024, subject to satisfaction of customary closing conditions.

Posted In: LUCY