Innovative Eyewear, Inc. Announces $4.8 Million of Gross Proceeds Raised from Warrant Transactions

Core Viewpoint - Innovative Eyewear, Inc. has entered into definitive agreements for the immediate exercise of certain outstanding warrants, resulting in the issuance of new Series I warrants and expected gross proceeds of approximately $2.2 million from the transaction [1][4][10] Group 1: Warrant Inducement Transaction - The company will exercise warrants to purchase 746,782 shares at an exercise price of $2.60 per share, with the closing expected around June 24, 2025 [1] - In exchange for the immediate exercise of the warrants, the company will issue new unregistered Series I warrants to purchase up to 2,240,346 shares at a purchase price of $0.125 per warrant, generating approximately $0.3 million in gross proceeds [3] - The gross proceeds from the warrant inducement transaction are expected to be approximately $2.2 million before deducting fees and expenses [4] Group 2: Additional Warrant Exercises - Over the last 30 days, the company has received approximately $2.6 million from the exercise of certain warrants by investors, resulting in the purchase of 986,532 shares at the original exercise price of $2.60 per share [5][10] Group 3: Regulatory and Compliance Information - The new Series I warrants and the shares of common stock issuable upon their exercise are being offered in a private placement and have not been registered under the Securities Act of 1933 [6] - The company has agreed to file a registration statement with the SEC within 30 days covering the resale of the shares of common stock issuable upon exercise of the new Series I warrants [6]