Energy Focus Enters Material Definitive Agreement

TL;DR

EFOC signed a big deal, details TBD.

AI Summary

On June 21, 2024, Energy Focus, Inc. entered into a material definitive agreement. The filing does not provide specific details about the agreement, its counterparty, or any associated financial terms.

Why It Matters

This filing indicates a significant new contract or partnership for Energy Focus, Inc., which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.

Key Players & Entities

• Energy Focus, Inc. (company) — Registrant
• June 21, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share EFOI The Nasdaq Stock Market
• $1.59 — ck"), for a purchase price per share of $1.59. Aggregate gross proceeds to the Comp
• $0.85 m — the Private Placement is approximately $0.85 million, before offering expenses payable

Filing Documents

• efoi-20240621.htm (8-K) — 30KB
• 0001628280-24-030269.txt ( ) — 153KB
• efoi-20240621.xsd (EX-101.SCH) — 2KB
• efoi-20240621_lab.xml (EX-101.LAB) — 22KB
• efoi-20240621_pre.xml (EX-101.PRE) — 13KB
• efoi-20240621_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Private Placement and Securities Purchase Agreements On June 21, 2024, Energy Focus, Inc. (the "Company") entered into a securities purchase agreement (the "Purchase Agreement") with Sander Electronics Inc. (the "Purchaser"), a shareholder of the Company controlled by Chiao Chieh (Jay) Huang, CEO of the Company, pursuant to which the Company agreed to issue and sell in a private placement (the "Private Placement") an aggregate of 534,592 shares (the "Shares") of the Company's common stock, par value $0.0001 per share (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 $0.85 million, before offering expenses payable by the Company. The Private Placement was closed on June 21, 2024. The Private Placement was priced at the closing price of the Common Stock on The Nasdaq Stock Market LLC ("Nasdaq") the day prior to the closing, which is fair market value under the rules of Nasdaq. The issuance and sale of the Shares pursuant to the Purchase Agreement are not being registered under the Securities Act of 1933, as amended (the "Securities Act"), and were made pursuant to certain exemptions from registration, including Regulation S promulgated thereunder, in reliance on the representations and covenants of the Purchaser under the Purchase Agreement.

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. The disclosure under Item 1.01 of this Current Report on Form 8-K are incorporated by reference into this Item 3.02.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibits. Exhibit Number Description 10.1 Securities Purchase Agreement, dated as of June 21, 2024, between the Company and the Purchaser named in the signature pages thereto. Securities Purchase Agreement, dated as of June 21, 2024, between the Company and the Purchaser named in the signature pages thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 21, 2024 ENERGY FOCUS, INC. By: /s/ Chiao Chieh Jay Huang Name: Chiao Chieh Jay Huang Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR