Deal sells 1,157 convertible preferreds to investor LSGC Holdings II
By Devika Patel
Knoxville, Tenn., Nov. 22- Lighting Science Group Corp. raised $1.16 million in a private placement of its series J convertible preferred stock with LSGC Holdings II LLC on Nov. 19, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 1,157 preferreds at $1,000 apiece. The preferreds are each convertible into common stock at $0.95 per share, which is a 131.71% premium to the Nov. 18 closing share price of $0.41.
The Satellite Beach, Fla.-based company makes lighting devices and systems that use light-emitting diodes as the light source.
Issuer: | Lighting Science Group Corp.
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Issue: | Series J convertible preferred stock
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Amount: | $1,157,000
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Shares: | 1,157
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Price: | $1,000
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Conversion price: | $0.95
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Warrants: | No
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Investor: | LSGC Holdings II LLC
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Settlement date: | Nov. 19
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Stock symbol: | OTCBB: LSCG
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Stock price: | $0.41 at close Nov. 18
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Market capitalization: | $77.02 million
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