Oppenheimer is the underwriter; deal funds general corporate purposes
By Devika Patel
Knoxville, Tenn., July 6 – Vuzix Corp. said it priced a $5.75 million public offering of stock with an $862,500 greenshoe.
The company will sell 1 million common shares at $5.75 per share. The price per share is a 16.3% discount to the July 5 closing share price of $6.87.
Oppenheimer & Co. Inc. is the underwriter.
Settlement is expected July 11.
Proceeds will be used for general corporate purposes.
Vuzix, based in Rochester, N.Y., makes and sells devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the internet or video games.
| Issuer: | Vuzix Corp.
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| Issue: | Common stock
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| Amount: | $5.75 million
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| Greenshoe: | $862,500, or 150,000 shares
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| Shares: | 1 million
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| Price: | $5.75
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| Warrants: | No
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| Underwriter: | Oppenheimer & Co. Inc.
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| Pricing date: | July 6
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| Settlement date: | July 11
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| Stock symbol: | Nasdaq: VUZI
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| Stock price: | $6.87 at close July 5
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| Market capitalization: | $108.25 million
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