Innovative Eyewear Issues Common Stock & Warrants

TL;DR

**Innovative Eyewear just issued new shares and warrants, watch for potential dilution.**

AI Summary

Innovative Eyewear Inc. filed an 8-K on January 5, 2024, to report the issuance of common stock and warrants. This filing indicates potential dilution for existing shareholders as new shares and warrants to purchase common stock were issued. This matters to investors because an increase in the number of outstanding shares can dilute the value of existing shares, potentially impacting stock price.

Why It Matters

The issuance of new common stock and warrants can dilute the ownership stake of current shareholders, potentially impacting the stock's per-share value.

Risk Assessment

Risk Level: medium — The issuance of new equity instruments carries a medium risk of dilution for existing shareholders.

Analyst Insight

A smart investor would monitor Innovative Eyewear Inc.'s stock price and trading volume closely for signs of dilution impact and consider the implications for their existing holdings or potential investment.

Key Players & Entities

• Innovative Eyewear Inc. (company) — the registrant filing the 8-K
• January 5, 2024 (date) — date of earliest event reported and filing date
• 001-41392 (string) — Commission File Number
• Florida (string) — State of Incorporation

Forward-Looking Statements

• Innovative Eyewear Inc. will experience increased trading volume due to investor reaction to potential dilution. (Innovative Eyewear Inc.) — medium confidence, target: 2024-01-12
• The stock price of Innovative Eyewear Inc. may face downward pressure in the short term due to the issuance of new shares and warrants. (Innovative Eyewear Inc.) — medium confidence, target: 2024-02-05

FAQ

Key Financial Figures

• $0.00001 — ch registered Common Stock, par value $0.00001 per share LUCY The Nasdaq Stock Mar
• $140,000 — shall pay Mr. Abondano a base salary of $140,000 per year. Mr. Abondano shall also have
• $30,000 — ve the right to receive a cash bonus of $30,000 at the end of any fiscal quarter in whi
• $1,000,000 — l quarter in which the Company achieves $1,000,000 or more in E-commerce revenue. Mr. Aban

Filing Documents

• innovative_8k.htm (8-K) — 43KB
• innovative_ex99-1.htm (EX-99.1) — 9KB
• ex99-1_001.jpg (GRAPHIC) — 8KB
• 0001829126-24-000068.txt ( ) — 281KB
• lucy-20240105.xsd (EX-101.SCH) — 4KB
• lucy-20240105_def.xml (EX-101.DEF) — 26KB
• lucy-20240105_lab.xml (EX-101.LAB) — 36KB
• lucy-20240105_pre.xml (EX-101.PRE) — 25KB
• innovative_8k_htm.xml (XML) — 5KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Chief Operating Officer On January 13, 2023, the Board of Directors of Innovative Eyewear, Inc., (the " Company ") authorized the appointment of Jaoquin Abondano to the position of Chief Operating Officer of the Company, effective as of January 1, 2024. Below is Joaquin Abondano's biography: Joaquin. Abondano, age 40, was the Vice President of E-Commerce and Supply Chain Operations of the Company since January 1, 2023 prior to his promotion to Chief Operating Officer. In this position, he had an instrumental role in driving the Company's sales on Shopify (an online e-commerce platform) and expanding market presence across Amazon and overseeing significant digital marketing initiatives which have established him as an important part of the senior management team. Prior to joining the Company, Mr. Abondano held the position of Vice President of Product and Logistics, at AMZ Tonal, Inc., a consumer services company, from June 2021 to January 2023, in which position he oversaw the launch of AMZ's brands on Amazon and the implementation of custom software solutions. Prior to joining AMZ, from January 2009 to June 2021, Mr. Abondano co-founded and maintained a position as Vice President of Product Management at Groovy Toys LLC, a retail toy company, where he oversaw the company's expansion into the US market, the development of its consumer products, including mobile apps and online games, and the growth of the company's digital footprint. Mr. Abondano obtained a bachelor's degree in management finance from Purdue University in 2006. As compensation for his services, the Company shall pay Mr. Abondano a base salary of $140,000 per year. Mr. Abondano shall also have the right to receive a cash bonus of $30,000 at the end of any fiscal quarter in which the Company achieves $1,000,000 or more in

01

Item 8.01 Other Events. On January 3, 2024, the Company entered into a multi-year non-exclusive licensing agreement with IngenioSpec LLC, (the " License Agreement ") covering multiple smart eyewear patents. Pursuant to the License Agreement, the Company will add licenses for 46 new patents to its current portfolio of 63 owned and licensed patents and applications. The Company issued a press release announcing the entrance into the License Agreement, which has been filed as Exhibit 99.1, to this Current Report on Form 8-K.

Financial Statements

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated January 5, 2024. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 5, 2024 INNOVATIVE EYEWEAR, INC. By: /s/ Harrison Gross Harrison Gross Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR