Kopin 37.55M Share Spot Secondary Priced At $0.65

Introduction

On Thursday, September 21st, Kopin Corporation (KOPN) announced the pricing of its secondary public offering of 37.55 million shares of its common stock at $0.65 per share. The offering is expected to close on Monday, September 25th.

Details Of The Offering

The offering is being made by a group of selling stockholders, and Kopin will not receive any proceeds from the sale of the shares. The underwriters have been granted a 30-day option to purchase up to an additional 5.63 million shares of common stock at the public offering price.

Use Of Proceeds

The selling stockholders intend to use the net proceeds from the offering for general corporate purposes, including working capital, capital expenditures, and debt reduction.

About Kopin Corporation

Kopin Corporation is a provider of wearable technologies and solutions. The company's products include microdisplays, optics, and software. Kopin's products are used in a variety of applications, including augmented reality, virtual reality, and medical imaging.

Market Reaction

The announcement of the offering was met with a negative reaction in the market. Kopin's stock price fell by more than 10% in premarket trading on Thursday.

Conclusion

The pricing of Kopin's secondary public offering is a significant development for the company. The proceeds from the offering will be used to fund Kopin's growth initiatives and will help the company to strengthen its financial position.