LONDON, UK: Tekcapital Plc announced that Innovative Eyewear Inc., a U.S. operating subsidiary of its portfolio company Lucyd Ltd, submitted a draft registration statement on a confidential basis with the U.S. Securities and Exchange Commission, for a proposed initial public offering (IPO) of shares of its common stock in the United States.

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 80% of the share capital of Innovative Eyewear, Inc.

The number of shares of common stock to be sold and the price range for the proposed IPO have not yet been determined. Innovative Eyewear intends to commence the IPO following completion of the SEC review process, subject to market and other conditions.

At this stage there can be no certainty on the IPO proceeding nor the terms or timing of the IPO. Further announcements will be made, as required, in due course.

Tekcapital finds, acquires, and invests in breakthrough technologies that can improve the quality of life.

www.tekcapital.com