Tekcapital Plc announced that Innovative Eyewear Inc., a U.S. subsidiary of its portfolio company Lucyd Ltd., plans to go public.
Innovative made a filing with the U.S. Securities and Exchange Commission for a proposed initial public offering of shares of its common stock.
Tekcapital (AIM: TEK, OTCQB: TEKCF) currently owns 100 percent of the share capital of Lucyd and about 80 percent of the share capital of Innovative.
The number of shares of common stock to be sold and the price range for the proposed IPO have not yet been determined, according to a press release from Tekcapital. As such, it’s not known how much the IPO proceeds might be.
Innovative plans to begin the sale of its securities in the IPO following completion of the SEC review process, subject to market and other conditions. The shares would be listed on the Nasdaq under the ticker LUCY.
