India, June 23 -- Innovative Eyewear, Inc. (LUCY), announced Monday that it has raised $4.8 million in gross proceeds through a combination of warrant inducement and exercises.
The company secured $2.2 million from a warrant inducement transaction involving the immediate exercise of 746,782 warrants at $2.60 per share, with H.C. Wainwright & Co. acting as exclusive placement agent.
As part of this transaction, Innovative Eyewear will issue 2.24 million new Series I warrants (unregistered) with an 18-month term and a $2.60 exercise price.
In addition, the company received $2.6 million from the exercise of 986,532 warrants by investors over the past 30 days at the same $2.60 price.
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