LONDON—Tekcapital Plc (AIM: TEK, OTCQB: TEKCF) announced on Dec. 14 that Innovative Eyewear Inc., a U.S. subsidiary of its portfolio company Lucyd Ltd, filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), for a proposed initial public offering of shares of its common stock in the U.S. Tekcapital currently owns 100 percent of the share capital of Lucyd Ltd and approximately 80 percent  of the share capital of Innovative Eyewear, Inc., an announcement said.

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 sale of its securities in the IPO following completion of the SEC review process, subject to market and other conditions. The company intends the shares to be listed on the NASDAQ under ticker: LUCY.
At this stage there can be no certainty of the total IPO proceeds. Further announcements will be made, as required.
Innovative Eyewear's Lucyd Lyte glasses allow people to listen to music, take and make calls, and use voice assistants to do many common smartphone tasks hands-free.

In its filing, posted here, the company also said it plans to launch a voice-controlled application, Vyrb, that would allow people to send and receive social media posts through their Lucyd Lyte smart glasses. The application is slated to launch out of beta in the fourth quarter of 2021 with software upgrades expected to be rolled out in the fourth quarter of 2022, the company said. The upgrades, the company said, are expected to include features like content selling capabilities for social media creators.