Israeli material science company Gauzy, Ltd. leads $2 million investment in Research Frontiers and its SPD-Smart light control technology

Publisher :GlobeNewswire

Gauzy at Nasdaq

Tel Aviv, Israel, and Woodbury, New York., Sept. 07, 2018 (GLOBE NEWSWIRE) — Research Frontiers Inc. (Nasdaq: REFR) and Israel-based material science company Gauzy Ltd. announced today that Gauzy has lead a group that has invested $2 million in SPD-SmartGlass technology company Research Frontiers. The investors purchased 2,173,916 shares of common stock of Research Frontiers at a price of $0.92 per share (the market price for Research Frontiers common stock at the time the transaction was entered into) and also received warrants expiring September 30, 2023 to purchase 1,086,957 shares of Research Frontiers common stock at an exercise price of $1.10, $1.20 or $1.38 per share depending upon the exercise date.

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