Energy Focus raises ~$450k via private placement of 283,109 shares at $1.59/share

ENERGY FOCUS, INC/DE

Issued 283,109 shares at $1.59/share for aggregate gross proceeds of approximately $450,143.
Private placement closed March 28, 2024; unregistered under Securities Act, exempt under Section 4(a)(2) and Reg D.
Price set at Nasdaq's Minimum Price, exempting shareholder approval under Listing Rule 5635(d).

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 valued at approximately $450,143 (effective 2024-03-28).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $450,143
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, 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 283,109 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 $1.59.

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ENERGY FOCUS, INC/DE filing history →

Source: SEC EDGAR

accession 0001628280-24-013734

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