Published on 3/19/2008 in the Prospect News PIPE Daily.
New Issue: Energy Focus secures $10.2 million from private placement of units
By Devika Patel
Knoxville, Tenn., March 19 -Energy Focus, Inc. arranged a $10.2 million private placement of units on March 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 3,184,321 units at $3.205 apiece. Each unit consists of one common share and a five-year warrant, exercisable at $3.08.
Based in Solon, Ohio, Energy Focus designs, develops, manufactures and markets fiber optic lighting systems.
| Issuer: | Energy Focus, Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $10,205,748.81
|
| Units: | 3,184,321
|
| Price: | $3.205
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.08
|
| Pricing date: | March 14
|
| Stock symbol: | Nasdaq: EFOI
|
| Stock price: | $2.63 at close March 14
|
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