Revolution Lighting Technologies, Inc. has received an additional $5 million investment from an affiliate of Aston Capital LLC. The investment will be in the form of convertible preferred stock and will be used to fund recent customer orders as well as to fund future growth.
The $5 million investment contemplated will be derived from the sale of a new convertible preferred stock to RVL Holdings, an entity managed by Aston Capital, LLC and controlled by Robert V. LaPenta. The preferred stock will be convertible into common stock at a price of $1.17 per share and carry a 5% annual dividend payable in cash or stock. The transaction is expected to close on February 21, 2013 and is subject to the satisfaction of certain conditions which the Company anticipates will be satisfied. The Company will provide a more detailed description of the terms and conditions of the transaction in a Current Report on Form 8-K to be filed with the SEC.
