Kopin Corp has launched - stock offering

Television Digest with Consumer Electronics, Jan 5, 1998

Kopin Corp. has launched 2-million-share stock offering at $18.25 projected to raise $41.9 million. Kopin and shareholder Telecom Holding Co. will each sell million shares. Telecom, which bought 1.6 million shares of Kopin in Oct. 1995, will reduce stake to 5.3% from 14.8% and lose one of 2 seats on board, SEC filing said.

Among Kopin executives selling stock is Mktg. Display Products Vp Glenn Kephart, who will shed 15,000 of his 29,250 shares, SEC documents said. Rockwell international, which uses Kopin's gallium arsenide technology in building ICs for digital wireless handsets, was biggest customer, providing 61% of revenues. Kopin also has $1.1 million (7%) and $1.5 million (19.5%) stakes in IC makers GMT Microelectronics and Kendin Semiconductor.