Innovative Eyewear Prices $2.5M Of 5,263,161 Shares Of Common Stock At A Purchase Price Per Share Of $0.475 Priced At-the-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Innovative Eyewear, Inc. (NASDAQ:LUCY) has announced a direct offering of 5,263,161 shares of common stock at $0.475 per share, along with unregistered warrants for the same number of shares at the same price. The offering is expected to close by May 29, 2024.
May 28, 2024 | 6:44 pm
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Innovative Eyewear is issuing 5,263,161 shares of common stock at $0.475 per share in a direct offering, along with unregistered warrants for the same number of shares at the same price. This could lead to short-term dilution of existing shares.
The issuance of new shares and warrants at a price below the current market price can lead to dilution of existing shares, potentially putting downward pressure on the stock price in the short term.
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