Series J preferreds sold with warrants at $1,000 per unit in offering
By Devika Patel
Knoxville, Tenn., Sept. 17 – Lighting Science Group Corp. settled a $10 million private placement of its series J convertible preferred stock with LSGC Holdings III LLC and Pegasus Partners IV, LP on Sept. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 10,000 units of one preferred and warrants for 2,650 shares at $1,000.00 per unit.
The warrant is exercisable at $0.001.
The Satellite Beach, Fla.-based company makes lighting devices and systems that use light-emitting diodes as the light source.
| Issuer: | Lighting Science Group Corp.
|
| Issue: | Units of one series J convertible preferred share and warrants for 2,650 shares
|
| Amount: | $10 million
|
| Units: | 10,000
|
| Price: | $1,000.00
|
| Warrants: | Warrants for 2,650 shares per unit
|
| Warrant strike price: | $0.001
|
| Investors: | LSGC Holdings III LLC and Pegasus Partners IV, LP
|
| Settlement date: | Sept. 11
|
| Stock symbol: | OTCBB: LSCG
|
| Stock price: | $0.17 at close Sept. 10
|
| Market capitalization: | $42.38 million
|
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