Innovative Eyewear, Inc. Announces Pricing of $7.35 Million Initial Public Offering

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by Anna Munhin Aug 15, 2022 News
Innovative Eyewear, Inc. Announces Pricing of $7.35 Million Initial Public Offering

Innovative Eyewear is a developer and retailer of cutting-edge eyeglasses and sunglasses that allow users to remain connected to their digital world. Each share of common stock is being sold together with two Warrants, each to purchase one share of common stock with an exercise price of $7.50 per share at a combined offering price of $7.50, for gross proceeds of approximately $7.35 million. There is an option to purchase up to an additional 147,000 shares of common stock and/or Warrants to cover over-allotments at the initial public offering price. The company is offering all of the shares of common stock.

(PRNewsfoto/Lucyd Eyewear)

The symbols "LUCY" and "LUCYW" are expected to be used for the shares of common stock and warrants when they start trading on the capital market. The closing is expected to take place on August 17, 2022.

The Company plans to use most of the net proceeds from the offering to advance its sales and marketing, expand its inventory, develop new styles and sizes of its smart eyewear, and for general corporate purposes.

The sole book-running manager is the Maxim Group.

The registration statement on Form S-1 became effective on August 12th. The final prospectus will be filed with the SEC and will be available on the SEC's website. The offering is only being made by way of a prospectus. When available, electronic copies of the prospectus relating to this offering can be obtained from the following address. Interested parties should read the entire registration statement that the Company has filed with the SEC to learn more about this offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy in any state or jurisdiction in which such an offer, solicitation or sale is not currently legal.

There is a company called Innovative eyewear, Inc.

Innovative eyewear is a developer and retailer of smart eyewear that allows users to remain connected to their digital lives while also offering prescription eyewear and sun protection. The company believes that traditional frames don't have the functions that many people want in their glasses. The needs of the optical, hearables and digital assistants are addressed by smart eyewear. The mission of the Company's products is to upgrade your eyewear. You can find more information at www.lucyd.co.

The statements are forward looking.

The anticipated timing of completion of the offering is one of the forward-looking statements contained in this press release. The company's current expectations and assumptions are used to make forward-looking statements. There is a safe-harbor for forward-looking statements provided by the Private Securities Litigation Reform Act. The use of forward-looking expressions include, but are not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," and "predict" The Company's common stock and warrants will begin trading, the satisfaction of customary closing conditions and the expected date of the closing of the offering are all forward-looking statements. There is no obligation for the Company to publicly update any forward-looking statements. Important factors that could cause actual results to differ from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission.

The investor relations contact can be reached.

Scott Powell can be reached atscott@skylineccg.com.

The pricing of the initial public offering was announced.

Innovative eyewear, Inc. is the source.