Innovative Eyewear raises ~$562k via warrant exercise inducement; issues new warrants

Innovative Eyewear Inc

Existing warrant holders exercise 150,000 shares at $3.75 each for ~$562k gross proceeds.
In exchange, holders receive new warrants to purchase 300,000 shares at $3.75, expiring April 2028.
New warrants are unregistered, issued in a private placement with a registration rights obligation.
Company must file a resale registration statement within 45 days; use commercially reasonable efforts to make effective within 90 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Innovative Eyewear Inc entered into Inducement Letter with certain accredited investors valued at approximately $562,000 (effective 2023-04-17).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $562,000
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, Innovative Eyewear Inc. (the “Company”) entered into a warrant exercise inducement letter agreement (“Inducement Letter”) with certain accredited investors that are existing holders of warrants to purchase an aggregate of 150,000 shares of the Company’s common stock for cash

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Innovative Eyewear Inc filing history →

Source: SEC EDGAR

accession 0001829126-23-002773

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