Kopin Corporation announced a $15.0 million strategic investment agreement with Theon International Plc, a globally recognized developer and manufacturer of advanced thermal imaging and night vision systems for defense markets. This investment is expected to accelerate Kopin's revenue growth in new markets and scale existing operations.
The investment includes an $8.0 million capital injection into Kopin’s subsidiary in Dalgety Bay, Scotland, which will be renamed Kopin Europe Limited, giving Theon a 49% equity interest. This partnership aims to support co-developed products for Europe, Southeast Asia, and NATO countries, enabling collaborative initiatives across key global regions.
Additionally, Theon will purchase $7.0 million of preferred shares from Kopin, convertible into common stock at a fixed conversion price of $3.00 per share, carrying an annual dividend of 4%. This strategic relationship is expected to elevate Kopin’s position as a global player in microdisplays and optical solutions for defense applications, reinforcing its role in delivering mission-critical technologies worldwide.
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