09:44 AM EDT, 04/11/2025 (MT Newswires) -- Innovative Eyewear ( LUCY ) shares plunged 52% in recent trading Friday after the company said it is exercising certain outstanding warrants to buy 601,686 shares of its stock at a lower price of $2.60 per share.

The warrants were originally issued on Sept. 4 and Sept. 24 with exercise prices of $5.00 and $9.50 per share respectively.

Innovative Eyewear ( LUCY ) said it expects $1.8 million in gross proceeds from the warrant exercise transaction, which is expected to be completed on Monday. The company also said it plans to use the net proceeds for working capital and general corporate purposes.

Price: 2.70, Change: -2.25, Percent Change: -45.45