VUZIX CORPORATION (NASDAQ:VUZI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On August 9, 2017, Vuzix Corporation (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers set forth on the pages thereto (the “Purchasers”) for the purchase and sale of an aggregate of 1,500,000 shares of the Company’s common stock in a registered direct offering at a purchase price of $5.75 per share. The Purchasers include Paul Boris, the Company’s chief operating officer, who agreed to purchase 10,000 shares under the Purchase Agreement.

to an engagement letter agreement dated August 8, 2017 (the “Placement Agent Agreement”) by and between the Company and Chardan Capital Markets, LLC (“Chardan”), the Company engaged Chardan to act as the Company’s placement agent in connection with the registered direct offering. to the Placement Agent Agreement, the Company agreed to pay Chardan a cash fee equal to $450,000.

The net proceeds to the Company from the offering, after deducting placement agent fees and estimated offering expenses, will be approximately $8.0 million. The registered direct offering is expected to close on or before August 14, 2017, subject to customary closing conditions.

The 1,500,000 shares of common stock were offered, and will be issued, to the Prospectus Supplement, dated August 9, 2017, to the Prospectus included in the Company’s Registration Statement on Form S-3 (Registration No.333-209304) filed with the Securities and Exchange Commission on February 1, 2016.

The foregoing summaries of the terms of the agreement described herein are subject to, and qualified in their entirety by, such documents, which are incorporated herein by reference.

On August 9, 2017, the Company issued a press release regarding the registered direct offering. A copy of the press release is attached as Exhibit 99.1 hereto.

The opinion delivered to the Company by Sichenzia Ross Ference Kesner LLP in connection with the sale of an aggregate of 1,500,000 shares of the Company’s common stock to the Purchase Agreement is being filed herewith in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933, as amended, and is incorporated by reference into the Company’s Registration Statement on Form S-3 (Registration No. 333-209304).

Vuzix Corp Exhibit
EX-5.1 2 v472928_ex5-1.htm EXHIBIT 5.1   Exhibit 5.1       August 11,…
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