Energy efficient lighting company Lighting Science Group has closed a $20m preferred stock financing led by private equity firms Pegasus Capital Advisors and Riverwood Capital Partners – the company’s two largest shareholders.
At the time of closing, Lighting Science had received $17.4m and said it has further commitments for the balance of $2.6m.
The funding will be used to finance growth and strengthen its position within the LED lighting sector, particularly focusing on the company’s technology and product innovations.
An aggregate 17,394 shares were issued at a price of $1,000 each. Pegasus was issued 15,000 shares, while Riverwood was issued the remaining 2,394.
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