Innovative Eyewear Inc., the manufacturer of smart eyewear under brands such as Lucyd, Reebok, and Nautica, recently announced the closing of an exercise of certain outstanding warrants. The exercise involved the purchase of 746,782 shares of the company's common stock at an exercise price of $2.60 per share, generating approximately $2.2 million in gross proceeds. Additionally, the company issued new Series I warrants to purchase up to 2,240,346 shares at a purchase price of $0.125 per warrant, with an exercise price of $2.60 per share. These Series I warrants are exercisable immediately and will expire eighteen months after the effective date of the resale registration statement. The company intends to use the net proceeds for working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.