Lumenpulse successfully completed a $338,000 brokered equity placement. A total of eight investors received shares from the company’s IPO over-allotment option they subscribed to almost two weeks ago. Since the company is a foreign entity, the amount offered reported to the SEC represents the portion of the over-allotment option allocated to US based investors. The private placement’s expected net proceeds amounts to $317,000 which excludes $20,000 paid in brokerage fees. The company went public on April 7th on the TSX (Ticker: LMP) pricing its IPO at C$16 a share, the top of its price range. The company raised C$100 million and announced the greenshoe was exercised in full, raising an additional C$15 million.
The company designs, develops, manufactures and sells a wide range of high-performance and sustainable specification-grade LED lighting solutions for commercial, institutional and urban environments.
The company is headquartered in Montreal Canada. Lumenpulse elected to keep its revenues undisclosed.
The executive team includes Francois-xavier Souvay, Nicolas Vanasse and Robert Comeau.
The board of directors includes Alexandre Taillefer, Francois Cote, Michel Ringuet, Nicolas Belanger, Pierre Fitzgibbon and Pierre Larochelle.
Amount offered: $338,000
Amount placed: $338,000
First sale: 04-17-2014
Data as of: 04-23-2014