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Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Vuzix Achieves Waveguide Production and Yield Targets and Receives $5 Million Second Tranche Investment from Quanta Computer
ROCHESTER, N.Y., June 16, 2025 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), ('Vuzix' or the 'Company'), a leading supplier of AI-powered smart glasses, advanced waveguides, and augmented reality (AR) technologies, today announced the receipt of a $5 million second tranche investment from Quanta Computer (TWSE: 2382), a premier global ODM and strategic partner. This latest investment brings Quanta's total investment in Vuzix to $15 million out of an anticipated total of $20 million, as previously announced on September 3, 2024. 'The completion of this second tranche investment marks another important milestone in strengthening our partnership with Quanta and expanding the capabilities of our cutting-edge waveguide production facility,' said Paul Travers, President and CEO of Vuzix. 'With this funding, we are further enhancing our state-of-the-art waveguide manufacturing capabilities, positioning Vuzix to deliver the world's most affordable, lightweight, and performance-driven AI smart glasses for mass-market adoption. We are excited about the continued collaboration and innovation ahead with a partner as respected as Quanta.' The foregoing description of Quanta's investment is qualified in its entirety by reference to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 16, 2025. About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 425 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages. Forward-Looking Statements Disclaimer Certain statements contained in this news release are 'forward-looking statements' within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release include, without limitation, statements that relate to potential impact of investments, the completion of the third investment tranche, Vuzix Smart Glasses, our business relationship and future business opportunities with Quanta Computer and their customers and the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as 'believes,' 'may,' 'expects,' 'anticipates,' 'should' and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the 'Risk Factors' and MD&A sections of the Company's Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at or Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Vuzix Media and Investor Relations Contact: Ed McGregor, Director of Investor Relations,Vuzix Corporationed_mcgregor@ Tel: (585) 359-5985 Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,Investor Information – IR@
Yahoo
6 days ago
- Business
- Yahoo
Vuzix Achieves Waveguide Production and Yield Targets and Receives $5 Million Second Tranche Investment from Quanta Computer
ROCHESTER, N.Y., June 16, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or the "Company"), a leading supplier of AI-powered smart glasses, advanced waveguides, and augmented reality (AR) technologies, today announced the receipt of a $5 million second tranche investment from Quanta Computer (TWSE: 2382), a premier global ODM and strategic partner. This latest investment brings Quanta's total investment in Vuzix to $15 million out of an anticipated total of $20 million, as previously announced on September 3, 2024. "The completion of this second tranche investment marks another important milestone in strengthening our partnership with Quanta and expanding the capabilities of our cutting-edge waveguide production facility," said Paul Travers, President and CEO of Vuzix. "With this funding, we are further enhancing our state-of-the-art waveguide manufacturing capabilities, positioning Vuzix to deliver the world's most affordable, lightweight, and performance-driven AI smart glasses for mass-market adoption. We are excited about the continued collaboration and innovation ahead with a partner as respected as Quanta." The foregoing description of Quanta's investment is qualified in its entirety by reference to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 16, 2025. About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 425 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages. Forward-Looking Statements Disclaimer Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release include, without limitation, statements that relate to potential impact of investments, the completion of the third investment tranche, Vuzix Smart Glasses, our business relationship and future business opportunities with Quanta Computer and their customers and the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" and MD&A sections of the Company's Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at or Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Vuzix Media and Investor Relations Contact: Ed McGregor, Director of Investor Relations,Vuzix Corporationed_mcgregor@ Tel: (585) 359-5985 Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,Investor Information – IR@ View original content to download multimedia: SOURCE Vuzix Corporation
Yahoo
6 days ago
- Business
- Yahoo
Solo Brands, Inc. Appoints John Larson as Chief Executive Officer; Company Completes Comprehensive Debt Restructuring
Well-positioned to pursue strategic transformation, supported by strong leadership bench and extended financial runway GRAPEVINE, Texas, June 16, 2025 (GLOBE NEWSWIRE) -- Solo Brands, Inc. (NYSE: DTC; OTC: DTCB) ('Solo Brands' or 'the Company'), a leading portfolio of lifestyle brands (Solo Stove, Chubbies, Isle and Oru) that are redefining the outdoor and apparel industries, today announced that Mr. John P. Larson was appointed as permanent President and Chief Executive Officer, effective immediately. Mr. Larson will also continue to serve on the Company's Board. The Company also announced that Solo Brands, LLC, as borrower (the 'Borrower'), an indirect subsidiary of the Company, entered into Amendment No. 4 (the 'Amendment') to the Credit Agreement dated as of May 12, 2021 (as amended, the 'Credit Agreement'), by and among the Borrower, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and letter of credit issuer, and the lenders party thereto, to effect a comprehensive debt restructuring. John Larson, Solo Brand's President and Chief Executive Officer, commented, 'This is a pivotal time for Solo Brands, and we have a strong team in place to implement our plans. This successful debt restructuring marks a substantial step forward, creating a significant runway and providing financial flexibility to execute our strategic vision. We believe we have taken appropriate steps to strengthen our balance sheet and liquidity position that underpins our multi-year transformational growth strategy. 'We are confident that our strong brand recognition, coupled with our turnaround efforts and value accretive initiatives, will position us to continue down the pathway to stabilize and transform the business. We appreciate the collaboration and support from our lenders. Finally, I am excited to continue in the CEO role, permanently, as the team, Board, and I are well aligned,' Larson concluded. Key Transaction Terms The Amendment, which became effective on June 13, 2025, reallocated and restructured the Borrower's debt under the Credit Agreement to provide a revolving credit facility with commitments equal to $90.0 million; a new term loan facility in an aggregate principal amount equal to $240.0 million; and the paydown by the Borrower of $136.5 million of revolving loans and $32.5 of existing term loans outstanding as of June 13, 2025. As a result, as of June 13, 2025, the Company's total outstanding debt under the revolving facility was $19.7 million, and the Company's total outstanding debt under the new term loan facility was $240.0 million. In addition, the Amendment extends the stated maturity of the revolving loans and the new term loans to June 30, 2028. Additional terms of the Amendment are set forth in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 16, 2025. Advisors Kirkland & Ellis LLP served as legal counsel, Lazard served as financial advisor, and AlixPartners served as operational advisor to the Company. About Solo Brands, Inc. Solo Brands, headquartered in Grapevine, TX, is a leading omnichannel lifestyle brand company. Leveraging e-commerce, strategic retail relationships and physical retail stores, Solo Brands offers innovative products to consumers through five lifestyle brands – Solo Stove and TerraFlame, known for firepits, stoves, and accessories; Chubbies, a premium casual apparel and activewear brand; ISLE, maker of inflatable and hard paddle boards and accessories; and Oru Kayak, innovator of origami folding kayaks. Contacts:Mark Anderson, Senior Director of Treasury & Investor RelationsInvestors@ Three Part Advisors, LLCSandy Martin: smartin@ 214-616-2207Steven Hooser: shooser@ 214-872-2710 Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our ability to realize expected benefits from the amendment of the credit agreement governing our debt, future financial position, turnaround efforts, strategic transformation goals, future growth and shareholder value, our going concern assessment, our plans and strategy to improve our liquidity, the expected benefits of operational improvements and restructuring efforts, benefits from management changes and seasonal trends. In some cases, you can identify forward-looking statements by terms such as 'may,' 'will,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'intends,' 'targets,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'forecasts,' 'guidance,' 'predicts,' 'potential' or 'continue' or the negative of these terms or other similar expressions. These statements are neither promises nor guarantees, and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to realize expected benefits from our strategic plans, including as a result of the amendment of our credit agreement; our ability to implement any restructuring and cost-reduction efforts; our liquidity; our ability to continue as a going concern; our ability to mitigate the impact of new and increased tariffs and similar restrictions on our business; our reliance on third-party manufacturers, which operate mostly outside of the U.S., and problems with, or the loss of, our suppliers or an inability to obtain raw materials; failure to regain compliance with the continued listing requirements of the NYSE, upon appeal or otherwise, or any future failure to meet such requirements; the impacts of the continued quotation of our Class A common stock on the OTC Pink Market; our dependence on cash generated from operations to support our business and our growth initiatives; the limits placed by our indebtedness to invest in the ongoing needs of our business; our ability to maintain and strengthen our brand to generate and maintain ongoing demand for our products; our ability to design, develop and introduce new products; our ability to manage our future growth effectively; our ability to expand into additional markets; our ability to maintain and strengthen our brand to generate and maintain ongoing demand for our products; risks associated with our international operations; our inability to sustain historic growth rates; our ability to cost-effectively attract new customers and retain our existing customers; the highly competitive market in which we operate; our failure to maintain product quality and product performance at an acceptable cost; the impact of product liability and warranty claims and product recalls; business interruptions resulting from fluctuations in the price of our Class A common stock; geopolitical actions, natural disasters, or pandemics; and the ability of our largest stockholders to influence corporate matters. These and other important factors discussed under the caption 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, or other filings we make with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Forward-looking statements speak only as of the date the statements are made and are based on information available to Solo Brands at the time those statements are made and/or management's good faith belief as of that time with respect to future events. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
13-06-2025
- Business
- Business Insider
Onconetix, Inc. Announces Receipt of Additional Notice from Nasdaq
Cincinnati, OH, May 22, 2025 (GLOBE NEWSWIRE) -- Onconetix, Inc. (Nasdaq: ONCO) (the 'Company') announced that it received a Staff delisting letter from The Nasdaq Capital Market ('Nasdaq') on May 20, 2025 indicating that the Company's failure to file its Quarterly Report on Form 10-Q for the three months ended March 31, 2025 (the '10-Q') is in violation of Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the 'Rule'). This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. As previously reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission (the 'Commission') on April 24, 2025, the Company received a deficiency notice from Nasdaq that the Company was not in compliance with Nasdaq's Listing Rules as set forth in the Rule given the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the '10-K'). As previously reported in the Current Report on Form 8-K filed with the Commission on April 18, 2025, the Company received a Staff delisting letter from the Nasdaq Listing Qualifications Staff indicating that, based upon the closing bid price of the Company's common stock, par value $0.00001 per share ('Common Stock'), from November 25, 2024 to January 10, 2025, the Company was no longer in compliance with the requirement for continued listing on The Nasdaq Capital Market to maintain a minimum bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the 'Minimum Bid Price Rule'). On April 14, 2025, Nasdaq issued a further notice to the Company that it determined that the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days and was subject to delisting pursuant to the provisions under Nasdaq Listing Rule 5810(c)(3)(A)(iii). As a result, unless the Company timely requested a hearing before the Nasdaq Hearings Panel (the 'Panel'), trading of the Common Stock would be suspended at the opening of business on April 23, 2025, and a Form 25-NSE would be filed with the Commission, which would remove the Company's securities from listing and registration on Nasdaq. The Company timely requested a hearing before the Panel, which stayed the trading suspension pending the Panel's decision, and the Panel has scheduled a hearing date of May 27, 2025. As the Company is already before a Panel for its failure to comply with Minimum Bid Price Rule, the Company had seven calendar days from the date of the Notice, or until May 1, 2025, to request a stay of the suspension, which request will stay the suspension of the Company's securities pending the Panel's decision. The Company submitted a stay request on May 1, 2025. However, there can be no assurance that the Panel will grant the Company's request for a stay pending the hearing process or any further extension following the hearing. The Company intends to file the Form 10-K and 10-Q as promptly as possible in order to regain compliance with the Rule. About Onconetix, Inc.: Onconetix is a commercial stage biotechnology company focused on the research, development and commercialization of innovative solutions for men's health and oncology. Through our acquisition of Proteomedix, we own Proclarix®, an in vitro diagnostic test for prostate cancer originally developed by Proteomedix and approved for sale in the European Union ('EU') under the In Vitro Diagnostic Regulation ('IVDR'). We also own ENTADFI, an FDA-approved, once daily pill that combines finasteride and tadalafil for the treatment of benign prostatic hyperplasia ('BPH'), a disorder of the prostate. For more information, visit Contact Information:
Yahoo
29-05-2025
- Business
- Yahoo
Cardio Diagnostics Holdings, Inc. Regains Compliance with Nasdaq Minimum Bid Price
CHICAGO, May 29, 2025--(BUSINESS WIRE)--Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO) ("Cardio Diagnostics" or the "Company"), a pioneer in AI-powered precision cardiovascular medicine, today announced that on May 28, 2025, it received a notification letter (the "Notification Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it had regained compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rule 5550(a)(2) ("Minimum Bid Requirement") for continued listing on The Nasdaq Capital Market. This was disclosed in the Company's Current Report on Form 8-K filed on May 28, 2025. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's common stock traded above $1.00 per share from May 13, 2025, the date immediately following the Company's 1:30 reverse stock split having gone effective, through May 27, 2025. Accordingly, Nasdaq determined that the Company has regained compliance with Nasdaq's Minimum Bid Requirement, and that Nasdaq considered the matter closed. About Cardio Diagnostics Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine ("Core Technology") for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit Forward-Looking Statements Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, and dependence on results as discussed in the Annual Report on Form 10-K for the period ended December 31, 2024, under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. View source version on Contacts Investors Investor Relations855-226-9991investors@ Media & Public Relations Public Relations855-226-9991pr@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
