Energy Focus raises $1.75M in private placement of 853,658 shares at $2.05/share

ENERGY FOCUS, INC/DE

Gross proceeds ~$1.75M from sale of 853,658 common shares at $2.05 each.
Private placement closed Sept 29, 2023; priced at Nasdaq Minimum Price, exempting shareholder approval.
Shares issued in unregistered transaction under Section 4(a)(2) and Regulation D.
Proceeds expected to be used for general corporate purposes and working capital.

item 1.01 item 3.02 item 9.01

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 Agreements with certain accredited investors (effective 2023-09-29).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Effective: 2023-09-29

Exact text from the filing

On September 29, 2023, Energy Focus, Inc. (the “Company”) entered into certain securities purchase agreements (the “Purchase Agreements”) with certain accredited investors (the “Purchasers”), pursuant to which the Company agreed to issue and sell in a private placement (the “Private Placement”) an aggregate of 853,658 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 $2.05.

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Source: SEC EDGAR

accession 0000924168-23-000091

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