ROCHESTER, N.Y., March 25, 2021 /PRNewswire/ -- Vuzix
Corporation (NASDAQ: VUZI) (the "Company"), a leading supplier
of Smart Glasses and Augmented Reality (AR) technology and
products, today announced that it intends to offer shares of its
common stock for sale in an underwritten public offering. In
addition, the Company expects to grant the underwriters a 30-day
option to purchase up to an additional 15% of the number of shares
to be issued and sold in the public offering on the same terms and
conditions. The Company intends to use the net proceeds from this
offering for general corporate purposes, including working capital
to accelerate the building of finished goods inventory to address
increasing customer demand, new technology development, new product
development, purchases of technology, expansion of the Company's
software offerings, and possible related acquisitions of other
firms. The offering is subject to market conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
BTIG, LLC is acting as the sole book-running manager for the
offering.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-252673) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on February 9, 2021. The offering will be made only
by means of a written prospectus and prospectus supplement that
form a part of the registration statement. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
proposed offering will be filed with the SEC and will be available
on the SEC's website located at http://www.sec.gov. Electronic
copies of the preliminary prospectus supplement and the
accompanying prospectus may be obtained, when available, by
contacting BTIG, LLC, 65 East 55th Street, New York, NY, 10022, or by telephone at (212)
593-7555 or by e-mail at ProspectusDelivery@btig.com. Before
investing in this offering, interested parties should read in their
entirety the prospectus supplement and the accompanying prospectus
and the other documents that the Company has filed with the SEC
that are incorporated by reference in such prospectus supplement
and the accompanying prospectus, which provide more information
about the Company and such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Vuzix
Vuzix is a leading supplier of Smart-Glasses and Augmented
Reality (AR) technologies and products for the consumer and
enterprise markets. The Company's products include personal display
and wearable computing devices that offer users a portable
high-quality viewing experience, provide solutions for mobility,
wearable displays and augmented reality. Vuzix holds 184 patents
and patents pending and numerous IP licenses in the Video Eyewear
field. The Company has won Consumer Electronics Show (or CES)
awards for innovation for the years 2005 to 2021 and several
wireless technology innovation awards among others. Founded in
1997, Vuzix is a public company (NASDAQ: VUZI) with offices in
Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit
Vuzix website, Twitter and Facebook pages.
Safe Harbor Disclosure
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
law. Such forward-looking statements include, but are not limited
to, statements related to the Company's ability to complete the
financing, timing of the public offering, its intended use of
proceeds, granting the underwriters a 30-day option to purchase
additional shares and other statements that are not historical
facts. They are generally identified by words such as "believes,"
"may," "expects," "anticipates," "should" and similar expressions.
Readers should not place undue reliance on such forward-looking
statements, which are based upon the Company's beliefs and
assumptions as of the date of this release. The Company's actual
results could differ materially due to risk factors and other items
described in more detail in the "Risk Factors" sections of the
Company's Annual Reports and other filings with the United States
Securities and Exchange Commission and applicable Canadian
securities regulators (copies of which may be obtained at
www.sedar.com or www.sec.gov). Subsequent events and developments
may cause these forward-looking statements to change. The Company
specifically disclaims any obligation or intention to update or
revise these forward-looking statements as a result of changed
events or circumstance that occur after the date of this release,
except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel:
(585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West
Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation