By Sheri Kasprzak
New York, July 6 - Lighting Science Group Corp. raised $2 million from a line of credit.
So far, the company has drawn $750,000 from the line, which bears interest at Prime rate plus 100 basis points. The line matures on June 29, 2007.
The investors received warrants for 5 million shares, exercisable at $0.30 each for five years.
Dallas-based Lighting Science manufactures energy-efficient lighting products.
| Issuer: | Lighting Science Group Corp.
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| Issue: | Line of credit
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| Amount: | $2 million
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| Maturity: | June 29, 2007
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| Coupon: | Prime rate plus 100 basis points
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| Warrants: | For 5 million shares
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| Warrant expiration: | June 29, 2007
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| Warrant strike price: | $0.30
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| Settlement date: | June 29
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| Stock symbol: | OTCBB: LSGP
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| Stock price: | $0.32 at close June 29
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