Series J preferreds sold with warrants to multiple investors in deal
By Devika Patel
Knoxville, Tenn., Jan. 15 - Lighting Science Group Corp. raised $6.57 million in the first two tranches of a $17.43 million private placement of its series J convertible preferred stock on Jan. 9 and Jan. 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced Jan. 3, raised $2.57 million on Jan. 9 and took in $4 million on Jan. 14.
The company is selling 17,430 units of one preferred and warrants for 2,650 shares at $1,000.00 per unit. It sold 6,570 units in the first tranche.
The warrant is exercisable at $0.001.
LSGC Holdings II LLC, PCA LSG Holdings LLC, RW LSG Holdings, LLC, Cleantech Europe II (A) LP and Cleantech Europe II (B) LP are among the investors.
In the first tranche on Jan. 9, Cleantech Europe II (A) invested $2.19 million and Cleantech Europe II (B) invested $382,000. PCA invested $4 million in the second tranche on Jan. 14.
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.
|
| Issue: | Units of one series J convertible preferred share and warrants for 2,650 shares
|
| Amount: | $17.43 million
|
| Units: | 17,430
|
| Price: | $1,000.00
|
| Warrants: | Warrants for 2,650 shares per unit
|
| Warrant strike price: | $0.001
|
| Investors: | LSGC Holdings II LLC, PCA LSG Holdings LLC, RW LSG Holdings, LLC and Cleantech Europe II (A) LP, Cleantech Europe II (B) LP
|
| Pricing date: | Jan. 3
|
| Settlement date: | Jan. 9 (for $2.57 million), Jan. 14 (for $4 million)
|
| Stock symbol: | OTCBB: LSCG
|
| Stock price: | $0.34 at close Jan. 2
|
| Market capitalization: | $83.26 million
|
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