Kopin Announces $41 Million Private Placement (Form 8-K)

Kopin Announces $41 Million Private Placement

Theon International, Ondas Holdings and Unusual Machines make strategic investment in Kopin, underscoring Kopin's long term growth potential

WESTBOROUGH, Mass. - September 29, 2025 - Kopin Corporation (NASDAQ: KOPN), a pioneering leader in application-specific optical systems and high-performance microdisplays, today announced that it has entered into a securities purchase agreement for a private investment in public equity financing (the "PIPE") that is expected to result in gross proceeds of approximately $41.0 million.

Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, Kopin will issue an aggregate of 19,545,950 shares of common stock at a price of $2.10 per share to investors.

Proceeds will be used for the advancement of Kopin's development of color MicroLED, Neuraldisplay™ Artificial Intelligence, commercialization of sovereign solutions for microdisplays and optical solutions for First Person Visualization (FPV) for Drones and for general corporate purposes. The offering is expected to close as soon as satisfaction of customary closing conditions occurs.

Nikos Vasiliadis, Director of Electronics Engineering D&D in THEON, commented: "By deepening our strategic engagement as an anchor investor in KOPIN, we reaffirm our confidence in their breakthrough color MicroLED technology, and the long-term potential driven by acceleration in the defense sector. This investment also reflects our broader strategic focus on expanding our digital product offerings, which we consider a key pillar of our future growth.

Eric Brock, Chairman and CEO of Ondas Holdings, commented: "Ondas develops autonomous aerial and ground robotics platforms for mission-critical defense and security markets, where every ounce of size, weight, and power matters. Kopin's advanced optical display solutions are proven to deliver the performance, durability, and cost efficiency demanded by next-generation security systems. By investing in Kopin, we are not only supporting a supply chain partner but also unlocking opportunities to co-develop integrated solutions that align tightly with our long-term strategic roadmap."

Allan Evans, the CEO of Unusual Machines said, "Fat Shark goggles used to exclusively use Kopin panels. FPV was built on this partnership and the more than 100,000 display modules shipped annually across our range of headsets. Unusual Machines is investing in Kopin to drive made in the USA production of next generation products with the intent of rekindling this partnership to onshore and scale FPV headset production"

Erich Manz, Chief Financial Officer of Kopin stated, "We are pleased to announce this investment transaction with key strategic investors. This was a targeted partnership with investors who share our long-term vision and bring strategic value to Kopin. Their commitment underscores confidence in our technology, growth opportunities, and transformation strategy."

Stifel acted as exclusive financial advisor and lead placement agent and Craig-Hallum acted as co-placement agent to Kopin.

The securities being issued and sold in the PIPE have not been registered under the Securities Act of 1933, as amended (the "Securities Act"). Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Concurrently with the execution of the securities purchase agreement, Kopin and the investors named therein entered into a registration rights agreement pursuant to which Kopin has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock.