Orion Energy to launch $15 million public offering of common stock

Craig-Hallum Capital is bookrunner; offer has 15% over-allotment option

By Jennifer Chiou

New York, Feb. 11 – Orion Energy Systems, Inc. filed for a $15 million underwritten public offering of its common shares at a to-be-determined price, according to a 424B5 filing with the Securities and Exchange Commission.

Craig-Hallum Capital Group is the bookrunner.

There will be a 30-day option to purchase up to an additional 15% of shares.

The company said it expects to use proceeds from the stock offering for general corporate purposes, including pursuing acquisitions, expanding its LED lighting business and supporting working capital needs.

The Manitowoc, Wis.-based company designs, manufactures and markets various light-emitting diode retrofit fixtures. Its shares (NYSE: OESX) closed at $4.71 on Feb. 11.

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