Innovative Eyewear secures funding at market price

Innovative Eyewear has announced plans for a new stock and warrant offering the current market price. The company has entered into an agreement to issue and sell 4,200,822 new shares of its common stock at a price of $0.244 per share through a registered direct offering priced at the current market rate under Nasdaq rules.

Additionally, Innovative Eyewear will issue unregistered warrants to purchase up to 4,200,822 shares of common stock in a concurrent private placement. These warrants will have an exercise price of $0.244 per share.

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The funds will be used to support Innovative Eyewear’s operations and growth initiatives in the smart eyewear market. The company has recently announced new distribution agreements and signed football pundit Micah Richards as brand ambassador as part of a global marketing push.

This raise is notable because it was completed at the current market price, demonstrating investor demand for the stock without having to offer a major discount.

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