Orion Energy Systems Commences ~$7M Offering Of 500K Common Shares At $14/Share

Orion Energy Systems, Inc. (NASDAQ:OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today announced the pricing of its previously announced firmly underwritten public offering of 500,000 shares of its common stock at a price to public of $14.00 per share. The gross proceeds to Orion from the offering are expected to be approximately $7.0 million, before deducting underwriting discounts and commissions and other offering expenses.

Orion intends to use the net proceeds from the offering for reducing amounts outstanding under its existing credit agreement, with the remainder to be used for working capital and general corporate purposes.