(PRESS RELEASE) NEWPORT BEACH, CA - PogoTec, Inc., a company focused on wearable devices, announced that on Nov. 16, it filed an Offering Statement on Form 1-A with the Securities and Exchange Commission to launch a Regulation A+ initial public offering.
This filing came on the same day the company announced the purchase availability of PogoCam, an attachable eyewear camera that unobtrusively attaches to virtually all eyewear so consumers can capture and share the world from their point of view. PogoTec’s additional proprietary product solutions include PogoLoop, a universal connector that allows PogoCam to attach magnetically to virtually all eyewear as well as PogoTrack, a metal track embedded in the temple design of modern eyewear to allow PogoCam and other wearable devices to attach and detach magnetically to PogoTrack frames. PogoTec has licensed PogoTrack to three global frame manufacturers, including ClearVision Optical, FGX International and Argus Vision.
InfoTrends estimates that 1.2 trillion digital photos will be taken worldwide in 2017. Additionally, research has pointed to the global eyewear market growing and projected to exceed $180.0 billion by 2024.
PogoTec’s long-term business strategy includes leveraging a loyal and strong base of advocates to drive new users, and creating versatile products that can be used for everyday moments and a variety of occasions and activities. The company continues to commit substantial resources to research, develop and protect the intellectual property of forthcoming innovations in camera technology, augmented reality and wireless power. To date, PogoCam has filed 166 provisional patent applications that have been collapsed into 47 (32 provisional and 15 pending non-provisional) pending U.S. utility patent applications (provisional and non-provisional) and 54 pending foreign utility patent applications.
PogoTec’s commercial strategy focuses on the company’s own eCommerce site, optical retail including eyecare professionals, and traditional retail to drive sales (big box and online) and specialty and TV retail.
WR Hambrecht + Co is acting as the sole and exclusive underwriter for the Regulation A+ Initial Public Offering for PogoTec.
“PogoTec fits squarely within WRH+Co’s mission to assist exciting, early stage companies in accessing growth capital via the public market. PogoTec, like ShiftPixy and Arcimoto, scores highly on WRH+Co’s proprietary screens for its potential to disrupt its category,” said John Hullar, managing partner, WR Hambrecht + Co. “We look forward to supporting PogoTec in pursuit of its vision to innovate wearable technology and to bringing this opportunity to investors.”