Kopin Corporation, a Massachusetts-based developer and manufacturer of microdisplays, wearable technologies and application-specific optical solutions, has entered into a private investment in public equity agreement that is expected to raise approximately $41 million in gross proceeds.
According to a news release, the company will issue 19.5 million shares of common stock at $2.10 per share, and the proceeds will help advance its color MicroLED displays, NeuralDisplay AI technology and the commercialization of sovereign microdisplay solutions and optical systems for first-person drone visualization. A portion of the funds will also support general corporate purposes.
“We are pleased to announce this investment transaction with key strategic investors. This was a targeted partnership with investors who share our long-term vision and bring strategic value to Kopin. Their commitment underscores confidence in our technology, growth opportunities and transformation strategy,” Kopin’s Erich Manz said in a statement.
Kopin reported that Stifel acted as the exclusive financial advisor and lead placement agent for the offering, while Craig-Hallum Capital Group served as co-placement agent.
