{"schema_version":"secwatch.filing_event.v1","accession":"0000924168-23-000010","form_type":"8-K","ticker":"EFOI","cik":"0000924168","company_name":"ENERGY FOCUS, INC/DE","filed_at":"2023-01-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.608527+00:00","generated_at":"2026-06-20T12:11:35.804125+00:00","sec_items":["1.01","5.02","2.03","3.02","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Energy Focus raises ~$2.1M equity from Sander; appoints Jay Huang chairman","bullets":["5,446,252 shares at $0.5008 each in private placement to Sander Electronics purchasers; gross proceeds ~$2.1M.","~$607K in Jay Huang notes and ~$809K in Gina Huang promissory notes exchanged into common stock.","Jay Huang appointed Chairman; Wen-Jeng Chang appointed director; board expanded to 8 members.","Inventory Facility amended: max borrowing cut to $500K, maturity extended to Dec 2023, rate set at L+5.5% or SOFR+6%.","Streeterville Note amended: term extended to Dec 2024, $500K paid down, $250K due Jul 2023, then ~$117K monthly."],"urls":{"canonical":"https://secwatch.observer/filing/0000924168-23-000010","json":"https://secwatch.observer/filing/0000924168-23-000010.json","markdown":"https://secwatch.observer/filing/0000924168-23-000010.md","text":"https://secwatch.observer/filing/0000924168-23-000010.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/efoi-20230117.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T12:11:35.804125+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d28ab526aa90a974ac2295c9519b0c01e2dc1100","claim":"ENERGY FOCUS, INC/DE amended credit facility of $3,500,000 to $500,000 with Crossroads Financial Group, LLC at Three Month Libor rate plus 5.5% (currently 10.28% per annum) maturing December 31, 2023.","evidence_excerpt":"the remaining outstanding obligations under the Inventory Facility, and to reduce the maximum amount that may be available to the Company under the Inventory Facility from $3,500,000 to $500,000, subject to the borrowing base as set forth in the Inventory Loan Agreement. Pursuant to the Crossroads Amendment, Crossroads and the Company also agreed to extend the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$3,500,000 to $500,000"},{"label":"Counterparty","value":"Crossroads Financial Group, LLC"},{"label":"Rate","value":"Three Month Libor rate plus 5.5% (currently 10.28% per annum)"},{"label":"Maturity","value":"December 31, 2023"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"1d850257be","claim":"Chiao Chieh (Jay) Huang was appointed as Director at ENERGY FOCUS, INC/DE.","evidence_excerpt":"On January 23, 2023, the Board appointed Chiao Chieh (Jay) Huang as a director of the Company, effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"4541002ec0","claim":"Chiao Chieh (Jay) Huang was appointed as Chairman of the Board at ENERGY FOCUS, INC/DE.","evidence_excerpt":"Mr. Huang was also appointed to serve as the Chairman of the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chairman of the Board"}],"fact_type":"executive_change"},{"claim_id":"988bde2703","claim":"Stephen Socolof was appointed as Lead Independent Director at ENERGY FOCUS, INC/DE.","evidence_excerpt":"former Chairman, Stephen Socolof, was appointed to serve as Lead Independent Director","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Lead Independent Director"}],"fact_type":"executive_change"},{"claim_id":"2e8c2fc13de8ff4177c901493823067551072d68","claim":"ENERGY FOCUS, INC/DE entered into Registration Rights Agreement with the Purchasers (effective 2023-01-17).","evidence_excerpt":"Registration Rights Agreement On January 17, 2023, in connection with the Purchase Agreement, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with each of the Purchasers.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"the Purchasers"},{"label":"Effective","value":"2023-01-17"}],"fact_type":"material_agreement"},{"claim_id":"7f11e2b3de5004bfda21be7ecf16b3379cb6c96d","claim":"ENERGY FOCUS, INC/DE amended Second Amendment to the Inventory Loan Agreement with Crossroads Financial Group, LLC (effective 2023-01-18).","evidence_excerpt":"On January 18, 2023, the Company and Crossroads entered into a Second Amendment to the Inventory Loan Agreement (the “Crossroads Amendment”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Crossroads Financial Group, LLC"},{"label":"Effective","value":"2023-01-18"}],"fact_type":"material_agreement"},{"claim_id":"97a5bd5e9b1c4c1a37fbe3fd18846a75694d394b","claim":"ENERGY FOCUS, INC/DE amended Amendment to Promissory Note with Streeterville Capital, LLC (effective 2023-01-17).","evidence_excerpt":"On January 17, 2023, the Company and Streeterville entered into an Amendment to Promissory Note (the “Streeterville Amendment”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/924168/000092416823000010/0000924168-23-000010-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Streeterville Capital, LLC"},{"label":"Effective","value":"2023-01-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}