WESTBOROUGH, Mass.–(BUSINESS WIRE)–Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical systems and high-performance microdisplays for defense, enterprise, industrial, consumer and medical products, announced that it has priced a public offering of 37,550,000 shares of common stock at a public offering price of $0.65 per share. In addition, in lieu of common stock to certain investors, Kopin is offering pre-funded warrants to purchase 4,000,000 shares of its common stock at a purchase price of $0.64 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.01 exercise price per share of each pre-funded warrant. Aggregate gross proceeds from the offering of common stock and pre-funded warrants will be approximately $27 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any pre-funded warrants. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 6,232,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about September 23, 2024, subject to the satisfaction of customary closing conditions.
Kopin intends to use the net proceeds from the offering to fund general corporate purposes, including working capital, funding internal research & development and neural display, capital expenditures, and any payments related to pending litigation judgements owed or any appeals of the judgements.
Canaccord Genuity is acting as sole book runner and Lake Street Capital Markets is acting as co-manager.
About Kopin
Kopin Corporation is a leading developer and provider of innovative display, and application-specific optical solutions sold as critical components and subassemblies for defense, enterprise, professional and consumer products. Kopin’s portfolio includes microdisplays, display modules, eyepiece assemblies, image projection modules, and vehicle mounted and head-mounted display systems that incorporate ultra-small high-resolution Active Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCoS) displays, MicroLED displays (µLED) and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com. Kopin is a trademark of Kopin Corporation.
