Energy Focus raises $250k via private placement with board member Mei-Yun Huang

ENERGY FOCUS, INC/DE

Issued 257,798 shares at $0.3879/share on Jan 5, 2023 to board member Mei-Yun Huang.
Issued 325,803 shares at $0.4604/share on Jan 10, 2023 to same purchaser.
Total gross proceeds of $250,000 before expenses; shares unregistered (Section 4(a)(2)).
Placements priced at fair market value under Nasdaq rules, representing insider investment.
Funds used for general corporate purposes; no specific use disclosed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENERGY FOCUS, INC/DE entered into January 5 Purchase Agreement with Mei-Yun (Gina) Huang valued at $250 thousand (effective 2023-01-05).

Action: entry
Agreement: equity purchase
Counterparty: Mei-Yun (Gina) Huang
Value: $250 thousand
Effective: 2023-01-05

Exact text from the filing

On January 5, 2023, Energy Focus, Inc. (the “Company”) entered into a securities purchase agreement (the “January 5 Purchase Agreement”) with Mei-Yun (Gina) Huang, a member of the Company’s board of directors (the “Purchaser”), pursuant to which the Company agreed to issue and sell, in a private placement (the “January 5 Private Placement”) 257,798 shares (the “January 5 Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) for a purchase price of $0.3879 per share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENERGY FOCUS, INC/DE entered into Purchase Agreements with Mei-Yun (Gina) Huang valued at $250 thousand (effective 2023-01-10).

Action: entry
Agreement: equity purchase
Counterparty: Mei-Yun (Gina) Huang
Value: $250 thousand
Effective: 2023-01-10

Exact text from the filing

On January 10, 2023, the Company entered into a securities purchase agreement (collectively with the January 5 Purchase Agreement, the “Purchase Agreements”) with the Purchaser, pursuant to which the Company agreed to issue and sell, in a private placement (collectively with the January 5 Private Placement, the “Private Placements”) 325,803 shares (collectively with the January 5 Shares, the “Shares”) of the Company’s Common Stock for a purchase price of $0.4604 per share.

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Source: SEC EDGAR

accession 0000924168-23-000006

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