11:13 AM EDT, 09/16/2024 (MT Newswires) -- Vuzix ( VUZI ) said Monday that it has closed the sale of $10 million in common stock to Quanta Computer, completing the first tranche of investment from Quanta under a securities purchase agreement announced early this month.

In a regulatory filing, Vuzix ( VUZI ) said it sold almost 7.7 million shares to Quanta at $1.30 apiece.

Quanta Computer had agreed to invest a total of $20 million in Vuzix ( VUZI ) for the joint development of augmented reality glasses, Vuzix ( VUZI ) said.

Shares of the company were up more than 9% in recent trading.

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