Vuzix Corporation closed its initial public offering (IPO) of 31,180,157 units for C$0.20 per unit for gross proceeds of C$6,236,031.40 on December 24, 2009. Each unit contains 1 share of common stock and 1/2 of a common stock purchase warrant. A whole warrant enables the holder to acquire 1 share of common stock of Vuzix at a price of C$0.30 at any time up to 36 months following the closing of the offering.
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About Vuzix Corporation
Vuzix Corporation manufactures and sells video eyewear for the entertainment, defense, industrial and low vision medical markets. Vuzix products provide users with a portable and private big screen experience that can be used practically anywhere, anytime. Currently Vuzix produces the broadest range of video eyewear solutions in each of its various markets, including 3D video, virtual and augmented reality solutions.
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