Kopin receives $15M strategic investment from Theon; will sell 49% of Kopin Europe and issue convertible preferred

KOPIN CORP

Theon acquires 49% interest in Kopin Europe Ltd. for $8.0M; parties enter licensing and development agreement for military products.
Theon purchases $7.0M of Series A Convertible Preferred Stock convertible at $3.00/share; Kopin can force conversion once stock hits $4.50 for 10 of 30 days.
Theon commits additional $8.0M over five years for collaborative product and technology development.
Investment subject to European government approvals; closing expected in Kopin's fiscal Q3 2025.
Strategic partnership targets European and NATO defense markets, leveraging Kopin's Reston, VA facility as Theon USA's new industrial location.

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