--- schema_version: "secwatch.filing_event.v1" accession: "0000924168-23-000071" form_type: "8-K" ticker: "EFOI" cik: "0000924168" company_name: "ENERGY FOCUS, INC/DE" filed_at: "2023-07-05T23:59:59+00:00" generated_at: "2026-06-13T13:00:41.682241+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # Energy Focus raises $1.3M via private placement and appoints four new directors ## Summary - 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. ## SEC filing metadata - accession: 0000924168-23-000071 - form_type: 8-K - ticker: EFOI - cik: 0000924168 - company_name: ENERGY FOCUS, INC/DE - filed_at: 2023-07-05T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.6 - calibrated_materiality_score: 0.6 - confidence: high - sec_items: 1.01, 3.02, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/efoi-20230628.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000924168-23-000071 - JSON: https://secwatch.observer/filing/0000924168-23-000071.json - Plain text: https://secwatch.observer/filing/0000924168-23-000071.txt ## Key facts - Executive change Brian Lagarto resigned as Director at ENERGY FOCUS, INC/DE. - Action: resigned - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Dr. Shou-Jang Lee was appointed as Director at ENERGY FOCUS, INC/DE. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Kin-Fu Chen was appointed as Director at ENERGY FOCUS, INC/DE. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Jennifer Cheng resigned as Director at ENERGY FOCUS, INC/DE. - Action: resigned - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Jeffery Parker resigned as Director at ENERGY FOCUS, INC/DE. - Action: resigned - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Stephen Socolof resigned as Director at ENERGY FOCUS, INC/DE. - Action: resigned - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Dr. Chao-Jen Huang was appointed as Director at ENERGY FOCUS, INC/DE. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Executive change Jason Tien-Chia Tsai was appointed as Director at ENERGY FOCUS, INC/DE. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm - Material Agreements 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 source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/924168/000092416823000071/0000924168-23-000071-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.