Energy Focus, Inc. Serves as Escrow Agent for Four Million Share Private Placement
Energy Focus, Inc. /quotes/zigman/106251/quotes/nls/efoi EFOI +10.20% , a global leader in energy efficient lighting, today announced that Energy Focus, Inc. (the "Company") recently served as escrow agent for a four million share private placement of its common stock on behalf of The Quercus Trust ("Quercus"), of Newport Beach,Compact fluorescent light bulbs convert a led tube considerably higher percentage of their energy into light, which is why they are significantly more energy efficient than traditional filament bulbs. California, its largest shareholder, and a group of investors.
On June 29, 2011 Quercus reported in a Form 4 filed with the Securities and Exchange Commission that it had sold 3,965,000 shares of its common stock in a transaction that had closed two days earlier, and that after the sale Quercus continued to own 1,134,880 shares.
The Company served as the escrow agent for the transaction. The Company did not receive any compensation for it its serWhile using compact fluorescent light bulbs energy saving light helps conserve energy, it is important that the bulbs are collected and recycled properly to protect our environmentvices.
Twelve purchasers acquired shares from Quercus in the transaction. No purchaser ended up owning ten percent or more of the Company's common shares after the acquisition. Effective registration statements on SEC Form S-3 covered the sales of all of the shares.
Under the terms of the purchase documents, Quercus is precluded from selling any of the Company's common shares that it still owns for 180 days.
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient lighting products and turnkey energy efficient lighting solutions, holding 74 relevant lighting patents. Our solutions provide energy savings, aesthetics,Under efforts of led spotlight boosting the viability of LED luminaires, many companies are expanding high-power selections. safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government includes numerous research and development projects for the DOE and DARPA, creating energy efficient LED lighting systems for the U.S. Navy fleet. Customers include supermarket chains, the U.S.While most people Led strip light originally believed that LED lights were only appropriate for retail or night life applications, every day more and more American consumers are seeing that LED lights provide the earth-friendly retrofit government, state and local governmental agencies, retail stores, museums,Compact fluorescent light bulbs convert a led tube considerably higher percentage of their energy into light, which is why they are significantly more energy efficient than traditional filament bulbs. theme parks and casinos, hotels, swimming pool builders and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the United Kingdom.
Energy Focus, Inc. /quotes/zigman/106251/quotes/nls/efoi EFOI +10.20% , a global leader in energy efficient lighting, today announced that Energy Focus, Inc. (the "Company") recently served as escrow agent for a four million share private placement of its common stock on behalf of The Quercus Trust ("Quercus"), of Newport Beach,Compact fluorescent light bulbs convert a led tube considerably higher percentage of their energy into light, which is why they are significantly more energy efficient than traditional filament bulbs. California, its largest shareholder, and a group of investors.
On June 29, 2011 Quercus reported in a Form 4 filed with the Securities and Exchange Commission that it had sold 3,965,000 shares of its common stock in a transaction that had closed two days earlier, and that after the sale Quercus continued to own 1,134,880 shares.
The Company served as the escrow agent for the transaction. The Company did not receive any compensation for it its serWhile using compact fluorescent light bulbs energy saving light helps conserve energy, it is important that the bulbs are collected and recycled properly to protect our environmentvices.
Twelve purchasers acquired shares from Quercus in the transaction. No purchaser ended up owning ten percent or more of the Company's common shares after the acquisition. Effective registration statements on SEC Form S-3 covered the sales of all of the shares.
Under the terms of the purchase documents, Quercus is precluded from selling any of the Company's common shares that it still owns for 180 days.
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient lighting products and turnkey energy efficient lighting solutions, holding 74 relevant lighting patents. Our solutions provide energy savings, aesthetics,Under efforts of led spotlight boosting the viability of LED luminaires, many companies are expanding high-power selections. safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government includes numerous research and development projects for the DOE and DARPA, creating energy efficient LED lighting systems for the U.S. Navy fleet. Customers include supermarket chains, the U.S.While most people Led strip light originally believed that LED lights were only appropriate for retail or night life applications, every day more and more American consumers are seeing that LED lights provide the earth-friendly retrofit government, state and local governmental agencies, retail stores, museums,Compact fluorescent light bulbs convert a led tube considerably higher percentage of their energy into light, which is why they are significantly more energy efficient than traditional filament bulbs. theme parks and casinos, hotels, swimming pool builders and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the United Kingdom.
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