GCITekcapital's Lucyd completes IPO, launches new smart eyewear line
( ) announced the closing of its US$7.5m IPO of Innovative Eyewear (NASDAQ: LUCY, LUCYW), the US subsidiary of 's portfolio company Lucyd. Innovative Eyewear debuted on NASDAQ 3 days ago.
IPO closed
Innovative Eyewear, a maker of smart glasses, closed its IPO of 980,000 shares and accompanying warrants to purchase up to 1,960,000 shares. Each share was sold together with two warrants, with each warrant able to purchase one share, at a combined price of $7.50 per share. Gross proceeds were approximately US$7.35m excluding underwriting discounts and other expenses.
Innovative Eyewear said it would use the proceeds to advance its sales and marketing, expand inventory, update and produce in-store displays, develop new styles and sizes of its smart eyewear, and for working capital and other general corporate purposes.
Lucyd Lyte Fall '22
In related news, Innovative Eyewear announced the launch of their Lucyd Lyte Fall '22 smart eyewear line.
The company introduced four new smart frames and a new Lucyd wireless charging dock, saying that the new designs bring improvements to the build quality and audio fidelity of the smartwear line. The dock accessory can wirelessly charge all Lucyd Lyte models and up to three other USB devices at the same time.
To celebrate the launch, Lucyd is offering 10% off all purchases on Lucyd.co. Models start at US$35 with several lens options and 16 tints are available for customisation.
Lucyd glasses are available on Amazon (US), Best Buy, Dick's Sporting Goods, and other outlets in the US.
Harrison Gross, Lucyd CEO, commented: "Our mission at Lucyd has always strived to be the 'go-to upgrade' of your eyewear from sunglasses to prescription frames you wear all-day, everyday day. Simply put, the Lyte Fall '22 collection comprises our most advanced glasses yet."
Tekcapital owns 100% of Lucyd and approximately 70% of Innovative Eyewear.
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