Innovative Eyewear (LUCY) IPO Opens, Trades Lower

Today's IPO for Innovative Eyewear, Inc. (NASDAQ: LUCY) opened for trading earlier at $6.50 after pricing 980,000 units consisting of 980,000 shares of its common stock and two accompanying Warrants to purchase up to 1,960,000 shares of common stock. Each share of common stock is being sold together with two Warrants, each to purchase one share of common stock with an exercise price of $7.50 per share at a combined offering price of $7.50.

Shares have continued lower since opening, last down 27% to $5.46.

Maxim Group LLC acted as the sole book-running manager for the offering.

Innovative Eyewear is a developer and retailer of smart eyewear.

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