Maybe this will help VUZI find some direction:
Vuzix Corporation Announces Closing Of $97.75 Million Public Offering Of Common Stock
APRIL 01, 2021 1:30PM EDT
ROCHESTER, N.Y., April 1, 2021 /PRNewswire/ -- Vuzix Corporation (Nasdaq: VUZI, the "Company"), a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, today announced the closing of the Company's previously announced underwritten public offering of 4,768,293 shares of its common stock at a price to the public of $20.50 per share, including 621,951 shares pursuant to the full exercise by the underwriters of their over-allotment option. The gross proceeds to the Company from the offering were approximately $97.75 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
BTIG, LLC acted as sole book-running manager for the offering. Craig-Hallum Capital Group, LLC acted as co-manager for the offering. The Special Equities Group (SEG), a division of Dawson James Securities, Inc., acted 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 were 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 was 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 was filed with the SEC and is 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 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.
