the growing demand for products from its distribution networks

TüV Rheinland will issue Green product mark to the high bay light certified product, which can assist companies in demonstrating their corporate commitment and products’ international competitiveness to brands and retailers. In the other hand, the mark can give end consumers and buyers guidance in identifying green and sustainable products in the often crowded marketplace.

The proceeds from the new equity funding and commitments will be used to finance the Company's growth, expand its manufacturing capabilities, and enhance its leadership position in developing innovative energy-efficient LED lighting products for consumer and commercial applications in both the public and private sectors. This new round of funding will help the Company meet the growing demand for products from its distribution networks, including commercial networks (such as real estate owner/operators, retailers, and hospitality), public sector networks (such as the military and municipalities), and consumer networks (such as large-volume home improvement centers). Additionally, approximately $10 million will be used to retire a related-party obligation.

The funding was led by Riverwood Capital, a globally-focused private equity firm that invests in high-growth businesses in the technology and services industries. Pegasus Capital Advisors, L.P. and its affiliates, Lighting Science Group's majority owner, also participated in the equity financing in an amount equal to approximately $55 million, pursuant to an investment of approximately $33 million and an equity commitment of up to approximately $22 million.

Additionally, two executives who have previously worked with Riverwood Capital and some of its portfolio companies will be joining Lighting Science Group as senior managers--Brad Knight as Chief Operating Officer and Keith Scott as Chief Commercial Officer. Mr. Knight brings more than two decades of hands-on experience with international startups and turnarounds in a wide range of technology, product and service companies. He has held senior executive positions at Flextronics and Adaptix and currently serves as a Managing Director at Riverwood Solutions. Mr. Scott has served in both the role of CEO as well as sales and marketing executive in the energy, consumer electronics and contract manufacturing industries with companies such as Ultracell, Alien Technology and Flextronics.

According to the agreement, Focus will perform the LED high bay light project to sell LED lighting product account for 200 million Yuan. Aside from adopting the brand products which is designated by the customer, Focus will preferred to use the product made by Dongshan Precision among the same grade LED lamps.