Filing Details

 

 

This Amendment No. 1 (this "Amendment") to the Statement on Schedule 13D (the "Schedule 13D") filed by Intel Corporation, a Delaware corporation (the "Reporting Person" or "Intel"), on January 12, 2015, relates to the common stock, par value $0.001 per share (the "Common Stock"), of Vuzix Corporation, a Delaware corporation (the "Issuer" or "Vuzix"), and amends and supplements such Schedule 13D.  Except as specifically set forth herein, the Schedule 13D remains unmodified.

The second to last and last paragraph of Item 4 of the Schedule 13D are hereby deleted in their entirety.

Item 4 of Schedule 13D is hereby further amended and supplemented by adding the following at the end thereof:

On November 16, 2016, the Issuer filed a Current Report on Form 8‑K, disclosing that on November 10, 2016 it had received a letter from Intel.  The letter informed the Issuer that Intel had been evaluating it alternatives with respect to its significant investment in and strategic relationship with the Issuer and that Intel had determined that it no longer desires to pursue any strategic relationship with the Issuer.  Intel stated in the letter that the Issuer's technology does not fit into Intel's strategic plans.  In the letter, Intel further stated that, although it had not made any final decisions regarding its Issuer stock (and any such decision would be subject to obtaining the requisite Intel corporate approvals), it wanted to work with the Issuer to undertake an orderly disposition of some or all of its Issuer stock, subject to pricing and other conditions, that would be less disruptive in the markets.  In order to facilitate any sales of the Issuer's stock, in the event Intel determines to do so, Intel also requested that, unless it notifies the Issuer otherwise, the Issuer should no longer provide Intel with any non-public information.

Except as set forth in the Schedule 13D, as amended, Intel, and to Intel's knowledge, the persons set forth on Schedule A to the Schedule 13D have no plans or proposals that would result in or relate to any of the transactions, events or actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D (although the Reporting Person reserves the right to develop such plans).

Each share of Series A Preferred Stock is convertible, at the option of Intel, into 100 shares of Common Stock, subject to adjustment in the event of stock splits, dividends or other combinations.  See Item 4 of the Schedule 13D for a description of the Series A Preferred Stock.

(b)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

 

INTEL CORPORATION

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Suzan A. Miller and Steven R. Rodgers, and with full power of substitution, the undersigned's true and lawful attorney-in-fact with full power to execute and file with the Securities and Exchange Commission and any stock exchange or similar authority, any report required to be filed pursuant to Section 13 of the Securities Exchange Act of 1934, (as amended, the "Act"), with respect to securities which may be deemed to be beneficially owned by the Company under the Act, giving and granting unto said attorney-in-fact the power and authority to act in the premises as fully and to all intents and purposes as the Company might or could do if personally present by one of its authorized signatories, hereby ratifying and confirming all that said attorney-in-fact shall lawfully do or cause to be done by virtue hereof.

This Power of Attorney shall remain in full force and effect until either revoked in writing by the undersigned or until such time as the person to whom power of attorney has been hereby granted ceases to be an employee of Intel Corporation.

The undersigned has caused this Power of Attorney to be executed as of October 10, 2016.

INTEL CORPORATION

Robert H. Swan

Executive Vice President and Chief Financial Officer

 

 

 

The name, citizenship, business address, and present principal occupation or employment of each of the directors and executive officers of the Reporting Person are as set forth below.