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Vuzix Corporation (NASDAQ:VUZI) shares are moving higher on Tuesday after the company announced Quanta Computer entered a $20 million three-tranche investment in Vuzix.
The Details: The three-tranche investment by Quanta was announced by Vuzix on Tuesday morning. The first portion of the investment will comprise of a purchase of $10 million worth of Vuzix common stock.
The next two tranches, each valued at $5 million, are milestone-dependent and will consist of purchasing Vuzix Series B Preferred Stock. The investment will support the expansion of Vuzix’s waveguide production capabilities and joint development of new augmented reality/artificial intelligence smart glasses technologies
“This investment, and the ones to follow, will significantly strengthen our balance sheet and assure that we can implement whatever steps needed to ramp production of waveguides, as well as the co-development of new smart glasses and related technologies,” said Paul Travers, president and CEO of Vuzix.
“We look forward expanding our customer relationship and partnership with such a leading product manufacturer as Quanta, as well as realizing the significant revenue potential it stands to generate for Vuzix in the upcoming years with both parties’ successes.”
How To Buy Vuzix Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Vuzix (NASDAQ:VUZI)'s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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VUZI Price Action: At the time of writing, Vuzix shares are trading 8.91% higher at 94 cents, according to data from Benzinga Pro.
Image: Courtesy of Vuzix
Posted In: VUZI
