Energy Focus raises $400k via private placement of 803,212 shares to director Mei Yun Huang at $0.4980/share

ENERGY FOCUS, INC/DE

Gross proceeds of $400,000 from sale of 803,212 shares of common stock at $0.4980 per share.
Purchaser is board member Mei Yun (Gina) Huang; transaction is an insider private placement.
Shares issued in unregistered offering exempt under Section 4(a)(2) and Regulation D.
Proceeds will be used for general corporate purposes; no other material terms 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 Purchase Agreement with Mei Yun (Gina) Huang valued at $400 thousand (effective 2023-02-24).

Action: entry
Agreement: equity purchase
Counterparty: Mei Yun (Gina) Huang
Value: $400 thousand
Effective: 2023-02-24

Exact text from the filing

On February 24, 2023, Energy Focus, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Mei Yun (Gina) Huang, a member of the Company’s board of directors, pursuant to which the Company agreed to issue and sell, in a private placement (the “Private Placement”) 803,212 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share, for a purchase price of $0.4980 per share. Gross proceeds to the Company in respect of the Private Placement are $400 thousand, before deducting estimated offering expenses payable by the Company.

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Source: SEC EDGAR

accession 0000924168-23-000028

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