Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<a href="https://markets.businessinsider.com/stocks/vuzi-stock"></a><ul class="summary-list"><li><keyword id="11000704" type="UNKNOWN" weightage="60" keywordseo="vuzix-stock">Vuzix stock</keyword> sank as much as 22% on Friday.</li><li>The fall came after the company priced a 4.15 million share <keyword id="402902" type="PERSON" weightage="60" keywordseo="stock-offering">stock offering</keyword> at $20.50.</li><li>The offering price was well below Thursday's closing price of $26.32 per share.</li></ul><ul class="summary-list"></ul><a href="https://markets.businessinsider.com/stocks/vuzi-stock">Vuzix</a> stock sank as much as 22% on Friday after the company priced a 4.15 million share stock offering at $20.5 per share, well below the $26.32 closing price from Thursday.Underwriters in the deal were granted a 30-day option to purchase up to an additional 621,951 shares. <keyword id="1614471" type="PERSON" weightage="60" keywordseo="vuzix">Vuzix</keyword> is expected to raise roughly $85 million from the offering.Net proceeds will be used for general corporate purposes including working capital, new technology and product development, purchases of technology, expansion of the company's software offerings, and potential acquisitions.Vuzix creates virtual and augmented reality (VR and AR) technologies for both the consumer and enterprise <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>. The firm works with over 40 Fortune 100 companies offering VR and AR solutions for manufacturing, healthcare, logistics, and field service operations.Vuzix reported strong earnings on March 15 in what Paul Travers, the President and CEO, called a "transformational year for both Vuzix and the AR smart glasses industry." The company beat both top and bottom line analyst estimates and saw revenue rise 116% year-over-year in 2020.However, Maxim Group analyst Jack Vander Aarde downgraded <keyword id="11000705" type="UNKNOWN" weightage="60" keywordseo="vuzi">Vuzi</keyword>x from "buy" to "hold" based on valuation concerns after the report. Still, Aarde was mostly positive on VUZI's long-term potential and said he expects "multi-year revenue growth of 100%+."Over the past year, shares of Vuzix rose over 2,000% from $1.15 per share. During the rise, Intel, who was once a big supporter and main investor in Vuzix, sold $57.1 million worth of stock at an average of $11.51 per share.The company had <a href="https://www.theverge.com/2015/1/5/7493439/intel-buys-stake-in-google-glass-rival-vuzix">invested</a> $25 million in Vuzix in 2015 when its main competition was Google Glass.2020 was a year of firsts for the AR market and Vuzix. Vuzix Blade Smart Glasses were used in the <a href="https://markets.businessinsider.com/news/stocks/vuzix-blade-aids-first-augmented-reality-smart-glasses-based-total-knee-replacement-surgery-in-the-u-s-1029910874">first AR total knee replacement surgery</a> conducted in the United States. Vuzix M400 and M4000 glasses are now used by <a href="https://d2iankuf53zudv.cloudfront.net/Content/Upload/PDFs/03_01_2021_Vuzix_Microsoft_Teams_Final.pdf">Microsoft</a>, <a href="https://d2iankuf53zudv.cloudfront.net/Content/Upload/PDFs/03_09_2021_Vuzix_Rio_Tinto_Final.pdf">Rio Tinto</a>, and more.Shares of Vuzix traded down 21.52% as of 11:20 a.m ET on Friday.<div type="image" title="Vuzi chart 3" height="652" width="825" msid="81711611" hostid="261"></div>

Vuzix sinks 22% after pricing $85 million stock offering at a steep discount to previous close

You Searched For "vuzi" and got 1 results

Vuzix sinks 22% after pricing $85 million stock offering at a steep discount to previous close

Will Daniel

Popular Keywords

Buying Guides