Kopin To Sell Approx. 9.8% Of Its Common Stock To Goertek - Quick Facts

(RTTNews) - Kopin Corp. (KOPN) announced a strategic relationship with Goertek Inc., a global technology company headquartered in Weifang China. Under the stock sale agreement, Kopin will sell 7.339 million shares of Kopin's common stock to Goertek for $23,851,750 or $3.25 per share. This represents approximately 9.8% of Kopin's total outstanding shares of common stock.

Goertek provides vertically integrated total solutions and services to globally-renowned companies such as Samsung, Sony, Microsoft, Huawei and Xiaomi. Kopin and Goertek have entered into agreements to jointly develop and commercialize a range of technologies and wearable products.

Kopin said the goal of the partnership is to utilize Goertek's expertise in design and manufacturing to further develop and sell a range of wearable products incorporating Kopin technologies and components.