By Devika Patel
Knoxville, Tenn., April 24 - Lighting Science Group Corp. settled a $10 million private placement of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2,083,333 common shares at $4.80 apiece to LED Holdings LLC.
Proceeds were used to fund the cash payment of the company's acquisition of Lighting Partner BV, to pay the company's costs and bridge financing repayment related to the acquisition and for working capital purposes.
Dallas-based Lighting Science Group develops environmentally friendly lighting products.
| Issuer: | Lighting Science Group Corp.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 2,083,333
|
| Price: | $4.80
|
| Warrants: | No
|
| Investor: | LED Holdings LLC
|
| Settlement date: | April 24
|
| Stock symbol: | OTCBB: LSCG
|
| Stock price: | $5.00 at close April 24
|
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