Vuzix Corp. (VUZI) Offering Should Provide Capital Through Next 18 Months - Chardan

Chardan Capital Markets analyst James McIlree reiterated a Buy rating and $10.00 price target on Vuzix Corp. (NASDAQ: VUZI) after the company raised $20 million in a private placement that should give the company ample capital for at least the next 18 months to execute its growth plans.

The company intends to use the capital for: launching the M400, the M300XL, marketing for
the Blade, and the next generation waveguide-based smart glasses. The new capital structure will include 33.1 million shares of common stock, preferred stock convertible into 5.0 million shares of
common, warrants to purchase 6.5 million shares at an weighted average exercise price of $4.55 and a 2.4 year term, and options to purchase 1.5 million shares at $5.10 per share, expiring in just under 7 years.

For an analyst ratings summary and ratings history on Vuzix Corp. click here. For more ratings news on Vuzix Corp. click here.

Shares of Vuzix Corp. closed at $4.20 yesterday.

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