Sichenzia Ross Ference Carmel LLP Represents Vuzix Corporation in $20 million Private Placement Offering with Strategic Investor

Press Release – New York, NY – September 16, 2024 – Sichenzia Ross Ference Carmel LLP today announced that it represented Vuzix Corporation (NASDAQ: VUZI), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, in a private placement with a strategic investor. The private placement is for the sale by Vuzix of up to $20 million of common stock and Series B Preferred Stock in three tranches.

The initial closing under the private placement, in which the company sold $10 million of common stock, occurred on September 13, 2024. The second and third closings, each for the sale of $5 million of Series B Preferred Stock, will be tied to certain milestones. The Sichenzia Ross Ference Carmel LLP team was led by partners Gregory Sichenzia, Thomas Rose and Jeff Cahlon and associate Rohini Sud.