Innovative Eyewear, Inc. Completes Exercise of Warrants Leading to New Funding Opportunities

Innovative Eyewear, Inc. Successfully Closes Warrant Exercise



Innovative Eyewear, Inc., known for its cutting-edge smart eyewear brands such as Lucyd®, Lucyd Armor®, Reebok®, Eddie Bauer®, and Nautica®, announced on June 24, 2025, that it has finalized the exercise of specific outstanding warrants. This move has allowed the company to acquire substantial funding essential for its operations and advancements in technology.

Key Details of the Transaction


The company executed the exercise of an aggregate of 746,782 shares of its common stock, which were originally issued on April 14, 2025, at an exercise price set at $2.60 per share. By doing so, Innovative Eyewear anticipated securing gross proceeds amounting to approximately $2.2 million, prior to the deduction of placement agent fees and offering expenses. H.C. Wainwright & Co. served as the exclusive placement agent for this significant offering.

In conjunction with the immediate cash exercise of the warrants, Innovative Eyewear issued new unregistered Series I warrants, enabling the purchase of up to an additional 2,240,346 shares of common stock at a purchase price of $0.125 per warrant. This strategic move could generate further financial benefits for the company, adding to its total gross proceeds by approximately $0.3 million.

Expected Use of Proceeds


The net proceeds from this warrant exercise transaction are earmarked for general corporate purposes and working capital requirements. This funding is anticipated to support the company's ongoing commitment to enhancing operations and expanding their innovative smart eyewear collection, which leverages advanced technology to provide a seamless digital experience for users.

Over the last month, Innovative Eyewear secured around $2.6 million from the exercise of additional warrants, allowing investors to purchase a total of 986,532 shares at the same exercise price of $2.60. This influx of revenue signifies robust investor confidence in the company's market strategy and product offerings.

Regulatory Considerations


The new Series I warrants related to this inducement transaction are part of a private placement and are not registered under the Securities Act of 1933 or applicable state securities laws. As such, Innovative Eyewear has committed to filing a registration statement with the Securities and Exchange Commission (SEC) within 30 days to facilitate the resale of the shares of common stock available through the new warrants.

Moreover, this press release serves to clarify that it does not constitute an offer to sell or a solicitation to buy any of the securities detailed herein, in any jurisdiction where such actions would be illegal.

Company Overview


Innovative Eyewear, Inc. is distinguished in the smart eyewear market for developing pioneering products that integrate advanced ChatGPT technology in eyewear. Their brands, including Lucyd®, Nautica®, Eddie Bauer®, and Reebok®, are committed to transforming how consumers interact with their digital environments through stylish, functional eyewear. The innovative Bluetooth audio glasses they offer cater to a diverse array of user preferences in frame and lens selections, underscoring their commitment to upgrading traditional eyewear.

For anyone interested in discovering more about the ongoing evolution of smart eyewear or exploring their impressive collection, further information can be accessed at www.lucyd.co.

Conclusion


With significant financial maneuvers in progress, Innovative Eyewear, Inc. demonstrates both strategic growth potential and an enduring commitment to advancing the smart eyewear industry. As they continue to innovate, the reception of these new warrants emphasizes the confidence investors have in the company's visionary direction and market leadership.

Topics Consumer Technology)

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