SOLON, Ohio, July 2, 2013 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (OTCQB:EFOI) today announced the Company has completed the convertible debt financing it embarked upon March 12, 2013. The financing has been completed at $5.9 million, $1.1 million over an original target of $4.8 million. The financing consists of unsecured, subordinated, convertible promissory notes that mature on December 31, 2016, have a five percent annual interest rate, and are convertible into common stock of the Company at the rate of $0.23 per share. The proceeds will be used to finance the Company's operations and fund growth.
Energy Focus Completes $5.9 Million Convertible Debt Financing
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