Innovative Eyewear Shares Are Tumbling: What's Going On?
Portfolio Pulse from Adam Eckert
Innovative Eyewear Inc (NASDAQ:LUCY) shares are trading lower after announcing the pricing of a public offering of 4.5 million units at $1.05 per unit, with gross proceeds expected to total approximately $4.7 million. The company recently announced a licensing agreement with Authentic Brands for Reebok smart eyewear.
June 22, 2023 | 1:59 pm
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Innovative Eyewear's stock price is down after announcing a public offering of 4.5 million units at $1.05 per unit, raising approximately $4.7 million. The company also announced a licensing agreement with Authentic Brands for Reebok smart eyewear.
Innovative Eyewear's stock price is down due to the announcement of the public offering, which is diluting the value of existing shares. Additionally, the licensing agreement with Authentic Brands for Reebok smart eyewear may not have a significant short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100