Vuzix Corporation Announces Closing Of $97.75 Million General public Giving Of Common Stock
4 min readROCHESTER, N.Y., April 1, 2021 /PRNewswire/ — Vuzix Corporation (Nasdaq: VUZI, the “Enterprise”), a primary provider of Wise-Eyeglasses and Augmented Reality (AR) technologies and goods for the customer and organization markets, now announced the closing of the Firm’s beforehand declared underwritten community providing of 4,768,293 shares of its popular stock at a rate to the public of $20.50 for every share, together with 621,951 shares pursuant to the full exercise by the underwriters of their around-allotment selection. The gross proceeds to the Organization from the presenting had been approximately $97.75 million, right before deducting underwriting reductions and commissions and other presenting expenses payable by the Corporation.
BTIG, LLC acted as sole e-book-running manager for the providing. Craig-Hallum Cash Group, LLC acted as co-manager for the supplying. The Distinctive Equities Group (SEG), a division of Dawson James Securities, Inc., acted as a financial advisor to the Company.
The Business intends to use the web proceeds from the sale of the shares of widespread stock for general company uses, like doing work funds to speed up the making of completed items stock to tackle rising consumer desire, new engineering progress, new products improvement, purchases of know-how, growth of our application offerings, and achievable similar acquisitions of other companies.
The shares explained higher than had been provided by the Organization pursuant to a shelf registration statement on Kind S-3, which includes a foundation prospectus, that was filed on February 2, 2021 and declared productive by the SEC on February 9, 2021. The featuring was built only by means of a created prospectus and prospectus complement that type a aspect of the registration assertion. A last prospectus nutritional supplement and accompanying prospectus relating to the presenting was filed with the SEC and is out there on the SEC’s website situated at www.sec.gov. Copies of the remaining prospectus dietary supplement and the accompanying prospectus relating to the presenting may perhaps also be attained by speaking to BTIG, LLC at 65 East 55th Street, New York, NY, 10022, by email at [email protected] or by phone at (212) 593-7555.
This press release does not represent an give to promote or a solicitation of an provide to purchase, nor will there be any revenue of these securities in any jurisdiction in which this kind of offer, solicitation or sale would be illegal prior to registration or qualification beneath the securities laws of these kinds of jurisdiction.
About Vuzix Corporation
Vuzix is a foremost provider of Intelligent-Eyeglasses and Augmented Truth (AR) systems and merchandise for the shopper and business markets. The Company’s products and solutions involve private screen and wearable computing equipment that supply buyers a portable superior-high quality viewing practical experience, provide options for mobility, wearable shows and augmented truth. Vuzix retains 184 patents and patents pending and various IP licenses in the Video Eyewear subject. The Firm has received Buyer Electronics Display (or CES) awards for innovation for the a long time 2005 to 2021 and various wi-fi technology innovation awards among other people. Launched in 1997, Vuzix is a community enterprise (NASDAQ: VUZI) with workplaces in Rochester, NY, Oxford, British isles, and Tokyo, Japan. For extra data, take a look at Vuzix web page, Twitter and Fb internet pages.
Ahead-Seeking Statements Disclaimer
Specific statements contained in this information release are “forward-looking statements” within just the which means of the Securities Litigation Reform Act of 1995. Ahead-wanting statements contained in this launch relate to, amid other items, expected use of proceeds. They are generally determined by words these as “believes,” “may well,” “expects,” “anticipates,” “should really” and identical expressions. Visitors really should not location undue reliance on this sort of ahead-on the lookout statements, which are based on the Firm’s beliefs and assumptions as of the date of this release. The Company’s genuine success could vary materially thanks to chance things and other items explained in a lot more element in the Firm’s Yearly Studies and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may possibly be obtained at www.sedar.com or www.sec.gov). Subsequent occasions and developments may possibly cause these forward-looking statements to modify. The Organization specifically disclaims any obligation or intention to update or revise these forward-searching statements as a end result of modified gatherings or situation that come about soon after the date of this release, except as necessary by relevant legislation.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations
Vuzix Corporation
[email protected]
Tel: (585) 359-5985
Vuzix Company, 25 Hendrix Street, Suite A, West Henrietta, NY 14586 United states
Investor Information and facts – [email protected]
www.vuzix.com
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