Reported Earlier, Innovative Eyewear Announced That Its Board Of Directors Has Approved The Adoption Of A Limited Duration Stockholder Rights Plan And Declared A Dividend Distribution Of One Right For Each Outstanding Share Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Innovative Eyewear has announced the adoption of a limited duration stockholder rights plan and declared a dividend distribution of one right for each outstanding share of common stock.

September 26, 2024 | 6:55 am
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Innovative Eyewear's board has approved a stockholder rights plan and declared a dividend distribution of one right per share, which may protect against hostile takeovers and impact stockholder value.
The adoption of a stockholder rights plan, often known as a 'poison pill', is typically used to prevent hostile takeovers, which can be seen as a protective measure for current shareholders. The declaration of a dividend distribution of one right per share can also be viewed positively as it may enhance shareholder value. These actions are likely to have a positive short-term impact on LUCY's stock price.
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