Innovative Eyewear raises ~$4.7M in public offering of 4.5M units of stock + warrants

Innovative Eyewear Inc

Priced 4,500,000 units at $1.05/unit; each unit = 1 share + 1 warrant to buy 1 share at $1.05 for 5 years.
Gross proceeds ~$4.7M before fees; net proceeds for working capital and general corporate purposes.
Offering closed June 26, 2023; Maxim Group LLC served as sole placement agent.
90-day lock-up on shares held by directors, officers, and certain stockholders; company also restricted from issuing additional shares for 90 days.
Warrants immediately exercisable; placement agent receives 7% cash fee and up to 180,000 warrants with piggyback registration rights.

item 1.01 item 8.01 item 9.01

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 PAA with Maxim Group LLC (effective 2023-06-22).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2023-06-22

Exact text from the filing

nd a placement agency agreement dated as of June 22, 2023 (the “ PAA ”) with Maxim Group LLC (the “ Placement Agent ”), pursuant to which the Company agreed to issue and sell to investors in the offering an

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

Innovative Eyewear Inc entered into Purchase Agreement with certain investors valued at approximately $4.75 million (effective 2023-06-22).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: approximately $4.75 million
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, Innovative Eyewear, Inc., a Florida corporation (the “ Company ”), entered into a securities purchase agreement (the “ Purchase Agreement ”) with certain investors named therein (the “ Purchasers ”)

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Innovative Eyewear Inc filing history →

Source: SEC EDGAR

accession 0001829126-23-004432

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