Energy Focus said it entered into a securities purchase agreement with Sander Electronics, a shareholder of the company controlled by Chiao Chieh Huang, CEO of Energy Focus, pursuant to which the company agreed to issue and sell in a private placement an aggregate of 534,592 shares of the common stock for a purchase price per share of $1.59. Aggregate gross proceeds to the company in respect of the private placement is approximately $850,000, before offering expenses payable by the company. The private placement was closed on June 21.
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