![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, March 26, 2021 9:27:10 AM
Vuzix Corporation Announces Pricing Of $85 Million Public Offering Of Common Stock
7:00 AM ET 3/26/21 | Dow Jones
ROCHESTER, N.Y., March 26, 2021 /PRNewswire/ -- Vuzix(R) Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, today announced the pricing of an underwritten public offering of 4,146,342 shares of its common stock at a price to the public of $20.50 per share, before underwriting discounts and commission. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 621,951 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 30, 2021, subject to satisfaction of customary closing conditions. The gross proceeds to the Company from the offering, excluding any exercise by the underwriters of their option to purchase additional shares, are expected to be approximately $85 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
BTIG, LLC is acting as sole book-running manager. Craig-Hallum Capital Group, LLC is acting as co-manager for the offering. The Special Equities Group (SEG), a division of Dawson James Securities, Inc., is acting as a financial advisor to the Company.
The Company intends to use the net proceeds from the sale of the shares of common stock for general corporate purposes, including working capital to accelerate the building of finished goods inventory to address increasing customer demand, new technology development, new product development, purchases of technology, expansion of our software offerings, and possible related acquisitions of other firms.
The shares described above are being offered by the Company pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed on February 2, 2021 and declared effective by the SEC on February 9, 2021. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, may also be obtained, when available, by contacting BTIG, LLC at 65 East 55th Street, New York, NY, 10022, by email at ProspectusDelivery@btig.com or by telephone at (212) 593-7555.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Recent VUZI News
- Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical Instruction • PR Newswire (US) • 07/01/2024 01:30:00 PM
- Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Full Color Optical Reference Design for AI-Enabled Consumer Smart Glasses • PR Newswire (US) • 06/20/2024 02:45:00 PM
- Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Optimized Optical Modules for AI-Enabled Smart Glasses • PR Newswire (US) • 06/19/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/18/2024 08:10:05 PM
- Vuzix (NASDAQ: VUZI) Announces Its Intention to Offer High Durability Plastic Waveguide Design and Production Capabilities • PR Newswire (US) • 06/18/2024 01:35:00 PM
- Vuzix (NASDAQ:VUZI) Revolutionizes the Display Technology Industry with Introduction of Large Format Waveguide Design and Manufacturing • PR Newswire (US) • 06/13/2024 01:31:00 PM
- Vuzix (NASDAQ: VUZI) Continues to Receive Smart Glasses Reorders from Xander to Meet Rising Demand for Their Award-Winning Captioning Glasses for the Hard of Hearing • PR Newswire (US) • 06/10/2024 01:31:00 PM
- Vuzix Annual Shareholder Meeting to Be Held on June 13, 2024 • PR Newswire (US) • 06/04/2024 03:45:00 PM
- U.S. Air Force Agency Awards Vuzix (NASDAQ:VUZI) Development Contract for Augmented Reality Head Mounted Displays • PR Newswire (US) • 06/03/2024 01:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 06:59:02 PM
- Garmin Collaborates with Vuzix to Develop Next Generation Nano-Imprinted Waveguide with microLED based Display Systems • PR Newswire (US) • 05/14/2024 01:30:00 PM
- Vuzix to Bring New Low Cost, Full Color Waveguides to Display Week 2024 • PR Newswire (US) • 05/10/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:01:47 PM
- Vuzix Reports First Quarter 2024 Results • PR Newswire (Canada) • 05/09/2024 08:01:00 PM
- Vuzix Reports First Quarter 2024 Results • PR Newswire (US) • 05/09/2024 08:01:00 PM
- U.S. Index Futures Dip, Bank of England Holds Interest Rates at 5.25% • IH Market News • 05/09/2024 11:47:20 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 05/06/2024 04:15:16 AM
- Vuzix Schedules Conference Call to Discuss First Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 05/02/2024 03:30:00 PM
- Significant Productivity Improvements Achieved for Client Using Vuzix Smart Glasses • PR Newswire (US) • 04/24/2024 12:30:00 PM
- Global Retailer Expands Its Use of Vuzix Smart Glasses to Support Its Warehousing Operations • PR Newswire (US) • 04/23/2024 04:45:00 PM
- Vuzix Wholly Owned Subsidiary Moviynt Partners with NetLogistik to Offer Mobility Solutions for the Warehouse • PR Newswire (US) • 04/16/2024 12:15:00 PM
- Vuzix Reports 4Q and Full Year 2023 Results • PR Newswire (Canada) • 04/15/2024 08:15:00 PM
- Vuzix Reports 4Q and Full Year 2023 Results • PR Newswire (US) • 04/15/2024 08:15:00 PM
- U.S. Index Futures Surge after Dow Jones’ Worst Week, Oil Prices Dip • IH Market News • 04/15/2024 11:08:21 AM
- Vuzix Schedules Conference Call to Discuss Fourth Quarter and Full Year 2023 Financial Results and Business Update • PR Newswire (US) • 04/09/2024 01:15:00 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM