09:14 AM EDT, 09/20/2024 (MT Newswires) -- Kopin ( KOPN ) said Friday it priced a public offering of 37.6 million shares at $0.65 per share and is offering pre-funded warrants for 4 million shares at $0.64 per warrant for total gross proceeds of about $27 million.

The company said it granted underwriters a 30-day option to buy up to 6.2 million additional shares at the offering price, minus underwriting discounts and commissions.

Proceeds will be used for general corporate purposes, including research & development and capital expenditures, Kopin ( KOPN ) said. The offering is expected to close on or about Monday.

Kopin ( KOPN ) shares were down nearly 30% in recent premarket activity.

Price: 0.6800, Change: -0.28, Percent Change: -29.47