Kopin (NASDAQ: KOPN) pledges $23M cash to appeal $19.7M judgment

Rhea-AI Filing Summary

Kopin Corporation has appealed a $19.7 million judgment in the case of Blue Radios Inc. v. Kopin Corporation and has posted a bond to support the appeal. To secure the appeal, the company arranged a $23 million bond, which covers the judgment amount, related legal expenses, and interest expected to accrue over the appeal period.

Kopin deposited $23 million with its bank and granted the bank a security interest in that cash. The bank then issued a letter of credit to a surety company, which in turn issued the bond to the court. Under the loan agreements, the bank may apply the $23 million deposit to satisfy the letter of credit if it is called.

Positive

• None.

Negative

• $23 million of cash is pledged to secure the appeal bond for a $19.7 million judgment, reducing Kopin’s financial flexibility while the Blue Radios litigation remains unresolved.

Insights

Litigation and Capital Structure Analyst

Kopin’s appeal ties up $23M of cash to secure a $19.7M judgment.

Kopin is appealing a $19.7 million judgment in the Blue Radios Inc. v. Kopin Corporation matter and has posted a $23 million bond that also covers legal expenses and expected interest during the appeal. To do this, the company deposited $23 million with its bank and granted the bank a security interest in that amount, enabling the bank to issue a letter of credit to a surety that posted the bond with the court.

This structure means a substantial amount of cash is now pledged and subject to the bank’s rights under the agreements, which include using the deposit if the letter of credit is called. The impact on Kopin’s financial flexibility depends on how significant $23 million is relative to its overall cash and liquidity, which is not detailed in this excerpt. Subsequent company filings may provide more context on how this restricted cash position interacts with broader financing plans and ongoing operations.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported) October 7, 2025

KOPIN CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware		000-19882		04-2833935
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

125 North Drive, Westborough, MA 01581

(Address of Principal Executive Offices) (Zip Code)

(508) 870-5959

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, par value $0.01		KOPN		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On October 7, 2025 Kopin Corporation (Kopin or the Company) filed an appeal of the $19.7 million judgement against the Company in the matter of Blue Radios Inc. v. Kopin Corporation. The bond was for the amount of $23 million which consisted of the judgement, legal expenses and interest that would accrue over the expected term of the appeal. To post the bond the Company entered into loan agreements (the Agreements) with its bank which provides the bank with a security interest in the $23 million the Company deposited with the bank. The bank then issued a Letter of Credit (LOC) to a surety company who then issued the bond to the court. The Agreement provides for standard representations and warranties and allows the bank to use the $23 million to satisfy the LOC in the event the LOC is called.

Item 9.01 Exhibits.

(d) Exhibits

See the Exhibit Index below, which is incorporated by reference herein.

EXHIBIT INDEX

Exhibit No.		Description
10.1		Loan Agreement, dated as of October 2, 2025 by and among the Company, Kopin Targeting Corporation and Rockland Trust Company
10.2		Continuing Reimbursement Agreement for Letters of Credit dated as of October 2, 2025 by and among the Company and Rockland Trust Company
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KOPIN CORPORATION
Dated: October 10, 2025	/s/ Erich Manz
	Erich Manz
	Treasurer and Chief Financial Officer
	(Principal Financial and Accounting Officer)

FAQ

What did Kopin Corporation (KOPN) report in this 8-K filing?

Kopin reported that on October 7, 2025 it filed an appeal of a $19.7 million judgment in the case of Blue Radios Inc. v. Kopin Corporation and arranged a $23 million bond to support the appeal.

How large is the judgment against Kopin in the Blue Radios case?

The judgment against Kopin in the Blue Radios Inc. v. Kopin Corporation matter is $19.7 million, as disclosed in the filing.

Why did Kopin post a $23 million bond, and what does it cover?

Kopin posted a $23 million bond to cover the $19.7 million judgment, related legal expenses, and interest expected to accrue over the term of the appeal.

How did Kopin finance the $23 million appeal bond?

Kopin entered into loan agreements with its bank, deposited $23 million with the bank, and granted the bank a security interest in that amount. The bank issued a letter of credit to a surety company, which then issued the bond to the court.

What rights does the bank have over Kopin’s $23 million deposit?

Under the agreements, the bank has a security interest in the $23 million deposit and may use that amount to satisfy the letter of credit if it is called.

Which new agreements are associated with Kopin’s appeal bond?

The filing lists a Loan Agreement dated October 2, 2025 among Kopin, Kopin Targeting Corporation and Rockland Trust Company, and a Continuing Reimbursement Agreement for Letters of Credit dated the same day between Kopin and Rockland Trust Company.