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Vuzix® Corporation, a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce that it has completed the closing of the first investment tranche, for the sale of $10 million in common stock at $1.30 per share, under its previously announced September 3, 2024 purchase agreement with Quanta Computer Inc.
"Feedback thus far from both our investors and potential industry partners and customers since our prior September 3rd announcement has been very positive," said Paul Travers, President and CEO of Vuzix. "Again, we look forward expanding our customer relationship and partnership with such a leading product manufacturer as Quanta, as well as ultimately realizing the significant new revenue potential for Vuzix with its waveguides for AI smart glasses in the upcoming years with both parties' successes."
The foregoing description of Quanta's investment is qualified in its entirety by reference to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on September 3, 2024.
