8-K
filed July 5, 2023, 7:59 PM ET
ticker EFOI
CIK 0000924168
other material
confidence high
sentiment neutral
materiality 0.60
Energy Focus raises $1.3M via private placement and appoints four new directors
ENERGY FOCUS, INC/DE
- Private placement of 746,875 shares at $1.76/share for gross proceeds of ~$1.3M, closed June 29.
- Four directors (Jennifer Cheng, Brian Lagarto, Jeffery Parker, Stephen Socolof) resigned June 28.
- Board appointed Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, Dr. Chao-Jen Huang on July 2.
- One purchaser, Jay Huang, is a board member; proceeds to be used for general corporate purposes.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Brian Lagarto resigned as Director at ENERGY FOCUS, INC/DE.
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 28, 2023, the Company received notices of resignation from the following four members of the Board: Jennifer Cheng, Brian Lagarto, Jeffery Parker, and Stephen Socolof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dr. Shou-Jang Lee was appointed as Director at ENERGY FOCUS, INC/DE.
- Action
- appointed
- Role
- Director
Exact text from the filing
On July 2, 2023, the remaining members of the Board unanimously appointed the following four new members to the Board: Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, and Dr. Chao-Jen Huang.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kin-Fu Chen was appointed as Director at ENERGY FOCUS, INC/DE.
- Action
- appointed
- Role
- Director
Exact text from the filing
On July 2, 2023, the remaining members of the Board unanimously appointed the following four new members to the Board: Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, and Dr. Chao-Jen Huang.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jennifer Cheng resigned as Director at ENERGY FOCUS, INC/DE.
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 28, 2023, the Company received notices of resignation from the following four members of the Board: Jennifer Cheng, Brian Lagarto, Jeffery Parker, and Stephen Socolof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffery Parker resigned as Director at ENERGY FOCUS, INC/DE.
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 28, 2023, the Company received notices of resignation from the following four members of the Board: Jennifer Cheng, Brian Lagarto, Jeffery Parker, and Stephen Socolof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen Socolof resigned as Director at ENERGY FOCUS, INC/DE.
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 28, 2023, the Company received notices of resignation from the following four members of the Board: Jennifer Cheng, Brian Lagarto, Jeffery Parker, and Stephen Socolof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dr. Chao-Jen Huang was appointed as Director at ENERGY FOCUS, INC/DE.
- Action
- appointed
- Role
- Director
Exact text from the filing
On July 2, 2023, the remaining members of the Board unanimously appointed the following four new members to the Board: Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, and Dr. Chao-Jen Huang.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jason Tien-Chia Tsai was appointed as Director at ENERGY FOCUS, INC/DE.
- Action
- appointed
- Role
- Director
Exact text from the filing
On July 2, 2023, the remaining members of the Board unanimously appointed the following four new members to the Board: Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, and Dr. Chao-Jen Huang.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ENERGY FOCUS, INC/DE entered into Purchase Agreement with certain purchasers valued at approximately $1.3 million (effective 2023-06-29).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain purchasers
- Value
- approximately $1.3 million
- Effective
- 2023-06-29
Exact text from the filing
On June 29, 2023, Energy Focus, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain purchasers (the “Purchasers”), pursuant to which the Company agreed to issue and sell in a private placement (the “Private Placement”) an aggregate of 746,875 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for a purchase price per share of $1.76. Aggregate gross proceeds to the Company in respect of the Private Placement is approximately $1.3 million, before offering expenses payable by the Company.
View on SEC.gov
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