Innovative Eyewear, which sells Bluetooth connected eyewear under the brand Lucyd, raised $7.4 million by offering 1 million units at $7.50, the low end of the upwardly revised range of $7.50 to $9.50. The company offered 0.1 million more units than anticipated. It last revised terms in July, having previously filed to offer 1.5 million units at $5.50 to $7.50. Each unit contains one share of common stock and two warrants, exercisable at the IPO price.
Because the company offered units with warrants attached, Innovative Eyewear will be excluded from Renaissance Capital’s 2022 IPO stats.
Innovative Eyewear develops and sells a suite of tech-enabled eyeglasses and sunglasses, offering both prescription eyewear and sun protection. In January 2021, the company launched its first commercial product, Lucyd Lyte, which enables the wearer to listen to music, take and make calls, and use voice assistants to perform many common smartphone tasks hands-free.
Innovative Eyewear plans to list on the Nasdaq under the symbol LUCY. Maxim Group LLC acted as sole bookrunner on the deal.
