Business News • MarketWire • Vuzix Corporation Announces Full Exercise of Over-Allotment Option |
Vuzix Corporation Announces Full Exercise of Over-Allotment Option |
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Vuzix Corporation Announces Full Exercise of Over-Allotment Option
ROCHESTER, NY--(Marketwired - Jul 31, 2013) - Vuzix Corporation (TSX VENTURE: VZX) (OTCQB: VUZI) (BERLIN: V7X), a leading developer and supplier of smart glasses, today announced the full exercise of the over-allotment option granted to the underwriters to purchase an additional 525,000 shares of its common stock and warrants to purchase up to an aggregate of 525,000 shares of common stock, at a public offering price of $2.00 per share and $0.0001 per warrant, respectively, in connection with its previously announced underwritten initial public offering of 3,500,000 shares of common stock, and warrants to purchase up to an aggregate of 3,500,000 shares of common stock, bringing expected total gross proceeds from the offering to approximately $8,050,000, before underwriting discounts and commissions and other offering expenses payable by Vuzix. The warrants have a per share exercise price of $2.25, are exercisable immediately, and expire 5 years from the date of issuance.
View More : http://www.marketwire.com/mw/release.do?id=1816659&sourceType=3
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