Las Vegas, NV -- (SBWIRE) -- 08/30/2013 -- VUZIX CORP CMN STK (OTCBB:VUZI) declared the formal closing of its recent public offering and debt restructuring.
Through a public offering of public common stock and warrants and the full exercise of an over allotment by the agent of Vuzix Corp, Aegis Capital Corp, with Chardan Capital Markets which is acting as a financial advisor, Vuzix has raised gross proceeds of approximately $8,050,000 after direct offering costs and expenses.
CEO of Vuzix Corp, Paul J. Travers stated that with this cash the company is now executing on the enormous opportunity in front of them in the burgeoning technology revolution of wearable computing and displays. He continued saying that at this moment the company is gearing up for production of their award winning M100 smart glasses and their other industry leading wearable tech products through their manufacturing partners. The company’s distribution channels are already awaiting their shipments and are eager for strong sales demand. Vuzix Corp is seeing tremendous interest, particularly in the pro-sumer and enterprise markets with their M100.
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