other material
confidence high
sentiment neutral
materiality 0.35
Innovative Eyewear raises ~$762K from warrant exercise; issues Series C/D warrants
Innovative Eyewear Inc
- Exercised 148,567 existing warrants at $5.13/share for cash proceeds of ~$762,148.
- Issued new Series C warrants (5.5 yr, $6.00 strike) and Series D warrants (18 mo, $6.00 strike) each for 148,567 shares.
- Net proceeds to be used for working capital and general corporate purposes.
- H.C. Wainwright acted as placement agent, receiving 7.5% cash fee plus 1% management fee and 11,143 PA warrants at $6.4125 strike.
- The new warrants and PA warrants were issued in unregistered transactions under Section 4(a)(2).