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PowerSecure Announces Pricing Of Public Offering Of Common Stock

PowerSecure International, Inc. (Nasdaq: POWR), a leading provider of utility and energy technologies to electric utilities and their industrial, institutional and commercial customers, announced today that it has priced a public offering of 2,300,000 shares of common stock at a price of $16.00 per share.

The company also granted the underwriters a 30-day option to purchase up to 345,000 additional shares of common stock at the same price per share to cover any over-allotments. The offering is expected to close on August 21, 2013, subject to customary closing conditions.

The company expects to receive net proceeds from the offering of approximately $34,420,000 after deducting the underwriting discount and estimated expenses of the offering, assuming no exercise of the over-allotment option.

The company intends to use the net proceeds from the sale of its shares in this offering for general corporate purposes, including but not limited to working capital, capital expenditures, acquisitions, repurchases of outstanding shares and other business opportunities. The company has not determined the amount of net proceeds to be used specifically for the foregoing purposes. Accordingly, the company will have broad discretion in the application of any proceeds from the sale of securities in this offering. Pending any specific application of the net proceeds from this offering, the company intends to invest such net proceeds in short-term marketable securities.

Additionally, concurrently with this offering Sidney Hinton, PowerSecure’s president and chief executive officer, is offering 200,000 shares of PowerSecure common stock in an underwritten offering at the same price and on the same terms as the public offering. PowerSecure will not receive any proceeds from the sale of the shares of common stock offered by the selling stockholder.

Robert W. Baird & Co. Incorporated is the sole book-running manager for the offering. Craig-Hallum Capital Group, Roth Capital Partners, Maxim Group and Lake Street Capital Markets are acting as co-managers in the offering.

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