Innovative Eyewear Inc.

05/03/2024 | Press release | Distributed by Public on 05/03/2024 15:30

Supplemental Prospectus - Form 424B5

PROSPECTUS SUPPLEMENT

(To Prospectus Supplement Dated April 15, 2024, to Prospectus Dated March 26, 2024)

Filed Pursuant to Rule 424(b)(5)
Registration No. 333-276938

Up to $538,599

Common Stock

This prospectus supplement amends and supplements the information in the prospectus, dated March 26, 2024, filed as a part of our registration statement on Form S-3 (File No. 333-276938), or Registration Statement, as supplemented by our prospectus supplement, dated April 15, 2024, or the Prior Prospectus, relating to the offering, issuance and sale by us of our common stock, par value $0.00001 per share, from time to time that may be issued and sold under the at the market offering agreement, or the Sales Agreement, dated April 15, 2024, by and between us and H.C. Wainwright & Co., LLC, or Wainwright, as sales agent. This prospectus supplement should be read in conjunction with the Prior Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Prior Prospectus. This prospectus supplement is not complete without, and may only be delivered or utilized in connection with, the Prior Prospectus, and any future amendments or supplements thereto.

We are filing this prospectus supplement to amend the Prior Prospectus to update the maximum amount of shares we are eligible to sell under our Registration Statemenmt pursuant to General Instruction I.B.6 of Form S-3. As a result of these limitations and the current public float of our common stock, and in accordance with the terms of the Sales Agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $538,599 from time to time through Wainwright, which does not include the shares of common stock having an aggregate sales price of $12,744.23 that were sold pursuant to the Prior Prospectus to date. In the event that we may sell additional amounts under the Sales Agreement in accordance with General Instruction I.B.6, we will file another prospectus supplement prior to making such additional sales.

As of the date of this prospectus supplement, the aggregate market value of our outstanding common stock held by non-affiliates, or the public float, was $4,729,032, which was calculated based on 12,311,981 shares of our outstanding common stock held by non-affiliates at a price of $0.3841 per share, the closing price of our common stock on the Nasdaq Capital Market on March 5, 2024. During the 12 calendar months prior to, and including, the date of this prospectus supplement, we sold securities with an aggregate market value of $1,037,745 pursuant to General Instruction I.B.6 of Form S-3.

Our common stock is listed on the Nasdaq Capital Market under the symbol "LUCY." On May 1, 2024, the last reported sale price of our common stock on the Nasdaq Capital Market was $0.1981 per share.

Investing in the offered securities involves a high degree of risk. Before buying any shares, you should read the discussion of material risks of investing in our common stock in "Risk Factors" beginning on page 9 of the prospectus, and in the risks discussed under similar headings in the documents incorporated by reference in this prospectus supplement and the prospectus, as they may be amended, updated or modified periodically in our reports filed with the Securities and Exchange Commission.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

H.C. Wainwright & Co.

The date of this prospectus supplement is May 3, 2024