REG - Tekcapital plc - Portfolio Company Update Innovative Eyewear Inc

TekcapitalAnnouncement

29/08/2024 07:00

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RNS Number : 0686C  Tekcapital plc  29 August 2024

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The information contained within this announcement is deemed by the Company
(Companies House registration number 08873361) to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014
("MAR"). With the publication of this announcement via a Regulatory
Information Service ("RIS"), this inside information is now considered to be
in the public domain.

 

    29 August 2024

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Lucyd ChatGPT Smart Eyewear Now Available on Target.com

 

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes
that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW),
the developer and retailer of ChatGPT enabled smart eyewear under the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands, has announced its Lucyd Lyte
frames are now available on Target.com.

 

In a major move to increase its U.S. market presence, Innovative Eyewear's
cutting-edge smart eyewear collection, namely products from its Lucyd® brand,
are now available on Target.com. This new assortment with one of the largest
retailers in the United States represents a significant opportunity to bring
the Company's innovative products to millions of potential customers
nationwide.

 

We believe the launch on Target.com underscores Innovative Eyewear's
commitment to making smart eyewear accessible to everyone, further solidifying
Innovative Eyewear's position as a leader in the emerging smart eyewear
industry.

 

Emmanuel Ogbah, Linebacker of the Miami Dolphins & Lucyd Brand Ambassador

 Sporting the Jupiter XL Frame Available on Target.com

 Image Courtesy of Innovative Eyewear, Inc.

 

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"Target is a long-time favourite retailer of mine, as well as millions of
loyal customers in the US. Their focus on product quality, style and
accessibility makes Target.com an ideal channel partner for our smart frames.
We look forward to upgrading Target guests' eyewear."

 

View the Lucyd collection on Target.com.
(https://www.target.com/s?searchTerm=lucyd+eyewear&tref=typeahead%7Cterm%7Clucyd+eyewear%7C%7C%7Chistory)

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under
the Lucyd(®), Nautica(®), Eddie Bauer(®) and Reebok® brands. True to their
mission to Upgrade Your Eyewear(®), their Bluetooth audio glasses allow users
to stay safely and ergonomically connected to their digital lives and are
offered in hundreds of frame and lens combinations to meet the needs of the
optical market. To learn more and explore our continuously evolving collection
of smart eyewear, please visit www.lucyd.co (about:blank) .

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives and provides a range of technology
transfer services to help organisations evaluate and commercialise new
technologies. Tekcapital is quoted on the AIM market of the London Stock
Exchange (AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com (about:blank) .

 

LEI: 213800GOJTOV19FIFZ85

 

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc.

 

For further information, please contact:

 

 Tekcapital Plc                                                                                          Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                                          +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                                         +44 (0) 20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon

 

Forward-Looking Statements

This press release is for informational purposes only. The information herein
does not constitute investment advice nor an offer to invest and may contain
statements related to our future business and financial performance and future
events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital
that may constitute forward-looking statements. These statements may be
identified by words such as "expect," "look forward to," "anticipate"
"intend," "plan," "believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in other reports,
in presentations, in material delivered to customers, stakeholders and in
press releases. In addition, our representatives may from time to time make
oral forward-looking statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or
Lucyd's management. Please note that these are subject to a number of risks,
uncertainties and factors, including, but not limited to those described in
various disclosures. Should one or more of these risks or uncertainties
materialize, or should underlying expectations not occur or assumptions prove
incorrect, actual results, performance or achievements of Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those described
explicitly or implicitly in the relevant forward-looking statement. Other than
as required by relevant regulation or law,  neither Innovative Eyewear Inc,
Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which differ from
those anticipated.

 

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