Lighting Science gives details on $18 million common stock placement

Deal includes 5.45 million shares at $3.30 apiece, a 35.29% discount

New York, Jan. 28 - Lighting Science Group Corp. released details of its $18 million private placement of common stock on Friday, saying it sold 5,454,545 shares at $3.30 each.

The per-share price reflects a 35.29% discount to the closing share price, $5.10, on Jan. 25 and also represents a discount of less than 3% to the closing price of the stock on the date the company approved the offer.

Pegasus Partners IV, LP, the company's largest shareholder, and two of its operating advisors bought 3,167,333 shares for $10,452,200. Michael Kempner bought 60,606 shares for $200,000 and Leon Wagner bought 634,394 shares for $2,093,500. The remainder was purchased by affiliates of Wagner, including Irwin Simon, Richard Ruben, Stanley Fleishman and Beny Alagem.

Proceeds will be used to continue the company's market expansion strategy.

Dallas-based Lighting Science Group develops environmentally friendly lighting products.

Issuer:	Lighting Science Group Corp.
Issue:	Common stock
Amount:	$18 million
Price:	$3.30
Shares:	5,454,545
Warrants:	No
Investors:	Pegasus Partners IV, LP and advisors (for $10,452,200), Michael Kempner (for $200,000), Leon Wagner (for $2,093,500), Irwin Simon, Richard Ruben, Stanley Fleishman and Beny Alagem
Settlement date:	Jan. 26
Stock symbol:	OTCBB: LSCG
Stock price:	$5.05 at close Jan. 26
Market capitalization:	$390.99 million

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