Orion Energy Systems Announces Proposed Public Offering of Common Stock

Orion Energy Systems, a leading designer and manufacturer of high-performance, energy-efficient lighting platforms, today announced that it intends to offer US $15,000,000 of shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Orion. Orion also expects to grant the underwriter a 30-day option to purchase additional shares equal to up to 15% of the aggregate number of shares to be sold in the offering to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

In connection with the offering, Craig-Hallum Capital Group LLC is acting as sole managing underwriter.

Orion expects to use the net proceeds from the offering for general corporate purposes, which may include, but are not limited to pursuing acquisitions, expanding its LED lighting business and supporting its working capital needs.

A shelf registration statement (No. 333-193411) relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (SEC) and is effective. A preliminary prospectus supplement and accompanying base prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website located at www.sec.gov. Electronic copies of the preliminary prospectus supplement, when available, may be obtained by contacting Craig-Hallum Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6300, email: prospectus@chlm.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus in the registration statement and other documents Orion has filed or will file with the SEC for more complete information about Orion and the offering.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Streetlights and high-bay fixtures require high flux and efficacy to meet the ever increasing demands for system efficiency and energy cost reduction for these applications. Today, LUXEON 5050 LEDs received an upgrade in both flux and efficacy... READ MORE

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE