AR glasses Vuzix show demo release value of 100 million ordinary shares

Vuzix Corporation (VUZI), a provider of video glasses and smart glasses for the consumer, business and entertainment markets, today announced that it will sell 2 million shares at an issue price of $7.25 (approximately RMB50) per share. Ordinary shares. Without deducting commissions and expected issuance costs, the total issuance amount will reach 14.5 million US dollars (about 100 million yuan). Ordinary shares will be sold to four investment institutions, of which two are new investors and two are original investment institutions.

Vuzix

Previously, the smart eyewear company Vuzix showed a new black technology. Their latest updated video shows the actual use of their augmented reality technology. The video shows the practical use of Vuzix's latest generation of proprietary waveguide optical display technology through an iPhone.

Vuzix's demo

Vuzix plans to use the net proceeds from this offering for general corporate strategy, including the expansion of products, the international promotion of the new M300 and M3000 smart glasses, and the development and launch of proprietary waveguide technology scheduled for 2017 with the launch of the B3000 dual-tube waveguide. , as well as the general working capital strategy.

Paul Travers, CEO and President of Vuzix explained: “This financing will greatly consolidate Vuzix’s financial position and help ensure that the company has sufficient working capital to execute the business plan for 2018. The stock issuance is expected to be December 2016. The end of the 2nd.

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