Pryor Cashman Represents Cowen Group Affiliate in PIPE Investment in GlassesOff
GlassesOff Inc. (OTCBB:GLSO), announced on May 19, 2014 that it completed a private placement of approximately four million shares of its common stock to new and existing investors, which provided gross proceeds to GlassesOff™ of $5 million.
GlassesOff™ has developed a proprietary, patented technology platform to improve near vision sharpness through exercise, by improving the image processing function in the visual cortex of the brain, without changing the optical characteristics of the eye. The GlassesOff™ product has been designed to eliminate the dependency on reading glasses of people over the age of 40 who experience natural age-related changes in their near vision sharpness. The GlassesOff™ product is expected to be sold initially as an iPhone/iPad app.
Pryor Cashman represented the lead investor in the offering, an affiliate of Cowen Group Inc.(Nasdaq:COWN). Corporate Partner Richard Frazer and Counsel Michael Campoli led the representation.
