Lighting Science Group Completes Final Round of $140 Million Raise of Equity Funding and Commitments

  Lighting Science Group Completes Final Round of $140 Million Raise of Equity
  Funding and Commitments

  Riverwood Capital LeadsNew Round of Funding for One of the World’s Leading
    Makers of LED Lighting Products to Help it Meet Growing Product Demand

Business Wire

SATELLITE BEACH, Fla. -- May 29, 2012

Lighting Science Group Corporation (OTCBB: LSCG), one of the world's leading
LED lighting manufacturers, announced today that it has completed the final
round in a series of private placements totaling approximately $140 million in
equity funding and commitments, of which approximately $88 million is new
equity funding and commitments and approximately $52 million represents the
conversion of certain bridge financings occurring since the fourth quarter of

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

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.

Moelis & Company acted as placement agent in connection with the private

About Lighting Science Group Corporation

Lighting Science Group Corporation (OTCBB: LSCG) designs, develops,
manufactures and markets LED lighting solutions that are environmentally
friendlier and more energy efficient than traditional lighting products.
Lighting Science Group offers retrofit LED lamps in form factors that match
those of traditional lamps or bulbs and LED luminaires designed for a range of
applications including public and private infrastructure for both indoor and
outdoor use. Lighting Science Group's Advanced Projects Group business unit
designs, develops and manufactures custom LED lighting solutions for
architectural and artistic projects. Lighting Science Group is headquartered
in Satellite Beach, Florida; the Company's European operations are based in
Middelburg, The Netherlands; and the Company has a sales office in Sydney,
Australia. Lighting Science Group employs approximately 1,000 workers building
lighting products from domestic and imported parts. More information about
Lighting Science Group is available at

About Riverwood Capital

Riverwood Capital is a globally-focused private equity firm that invests in
high-growth businesses in the technology and services industries, across a
variety of verticals and geographies. Riverwood has offices in Menlo Park, CA
and New York, NY and currently has more than 20 investments in North America,
Latin America and Asia. Please visit

About Pegasus Capital Advisors, L.P.

Pegasus Capital Advisors, L.P. is a private equity fund manager that has over
15 years of experience providing creative capital solutions to companies
impacted by global trends in resource scarcity. By creating a close working
partnership between their experienced investment professionals and a seasoned
team of Operating Partners, Pegasus is able to create substantial growth
within its portfolio. Pegasus manages approximately $2.9 billion in assets.

Certain statements in this press release may constitute "forward-looking
statements" made under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995.These statements include, but are not limited
to, statements concerning the performance of Lighting Science Group and its
products and/or use terminology such as "anticipate," "assume," "believe,"
"estimate," "expect," "goal," "intend," "plan," "project," "seek," "target,"
"soon," "will," "first of many" and variations of such words and similar
expressions.Such statements reflect the current view of Lighting Science Group
with respect to future events and are subject to certain risks, uncertainties
and assumptions.Known and unknown risks, uncertainties and other factors could
cause actual results to differ materially from those contemplated by these
statements.In evaluating these statements, you should carefully review the
risk factors detailed under "Risk Factors" in our most recent filings with the
Securities and Exchange Commission that may cause our actual results to differ
materially from these forward-looking statements.


Lighting Science Group
Zvi Raskin, 321-610-9492
Riverwood Capital
Angela Murray, 650-618-7378
David Pollak, 212-710-3488
Press spacebar to pause and continue. Press esc to stop.