SOLON, Ohio, Sept. 11, 2015 (GLOBE NEWSWIRE) — Energy Focus, Inc. (the “Company”) (NASDAQ:EFOI) announced the pricing of a registered underwritten follow-on offering of shares of its common stock by it and certain of its stockholders (the “Selling Stockholders”) at a public offering price of $17.00 per share. The Company is offering 1,500,000 shares of its common stock and the Selling Stockholders are offering an additional 1,500,000 shares of their common stock on the same terms and conditions. The Company and the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock on a pro rata basis. The offering is expected to close on September 16, 2015, subject to the satisfaction of customary closing conditions. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholders.
The Company expects to use the net proceeds from the offering to finance its growth efforts and for working capital and other general corporate purposes.
Oppenheimer & Co. Inc. is acting as lead book-running manager for the offering. Canaccord Genuity Inc. is acting as book-running manager and Rodman & Renshaw a unit of H.C. Wainwright & Co., LLC is acting as co-manager for the offering.
These securities are being offered pursuant to two effective shelf Registration Statements on Form S-3 that have been filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and accompanying base prospectuses related to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectuses relating to the offering may also be obtained from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, Phone: (212) 667-8563, Email: [email protected].
This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer or a solicitation of any offer to buy, or a sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Forward Looking Statements:
Certain information contained in this press release, particularly information regarding completion of the offering, constitutes forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and generally contain words such as “believes,” “expects,” “may,” “will,” “intends” or similar expressions. The Company’s forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from those projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to market conditions, the Company’s ability to satisfy the closing conditions for the offering and other factors disclosed from time to time in the prospectus, the Company’s Annual Report on Form 10-K, its quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements which speak only as of the date hereof. We do not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law.
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient LED lighting products and a developer of energy efficient lighting technology. Company headquarters are located in Solon, Ohio with additional offices in Washington, D.C., New York and Taiwan.
CONTACT: Investor Contact:
Energy Focus, Inc.
Marcia Miller, Chief Financial Officer
(440) 715-1300
[email protected]
or
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
(516) 510-8768
[email protected]