Lighting Science Group Enters into New $53 Million Credit Facility

  Lighting Science Group Enters into New $53 Million Credit Facility

   Additional Financial Flexibility Increases Lighting Science’s Ability to
Pursue Growth Objectives As Patented Line of Biologically-Corrected LED Bulbs
                   Gain Consumer and Commercial Acceptance

Business Wire

SATELLITE BEACH, Fla. -- February 25, 2014

Lighting Science®, a leader in providing biologically-corrected lighting
solutions, announced today that it has entered into a new $53 million credit
facility agented by Medley Capital Corporation. Proceeds from the transaction
will be used to refinance existing credit facilities and to provide funding
for operations, which will allow the company to continue pursuing its growth
objectives.

Less than two quarters ago, Lighting Science introduced the first line of
commercial LED bulbs with patented technology designed to improve sleep,
support natural melatonin production, boost alertness, support plant growth
and protect wildlife. The GoodNight™ and Awake&Alert™ lights were developed in
conjunction with NASA and are being used globally by consumers and commercial
users.

“This transaction provides Lighting Science with additional and more flexible
capital in order to continue to pursue our infrastructure-related objectives
for the next several years as well as our innovative product and technology
development strategies,” said Richard Davis, Lighting Science Interim Chief
Executive Officer.

Lighting Science is the preferred product partner for LED retrofit lamps for
The Home Depot, which currently sells Lighting Science’s LED lamps under Home
Depot’s own EcoSmart® brand as well as for Standard Products’ private label
line of products. The company has partnered with Google to develop intelligent
lighting products that are controlled through the Android@Home platform.
Lighting Science also has partnerships with large retail, hospitality, and
other corporate customers including Harrah’s Operating Company, Hilton Hotels
Corporation, Simon Property Group and Starbucks Corporation.

About Lighting Science

Lighting Science (OTCQB:LSCG) is a global leader in lighting solutions that
are environmentally-friendlier and more energy-efficient than traditional
lighting products. Lighting Science is committed to UNLEASH THE SCIENCE OF
LIGHT TO MAKE PEOPLE AND OUR PLANET LOOK, FEEL AND HEAL BETTER with
award-winning, innovative LED lamps and lighting fixtures. Find out more at
www.lsgc.com or www.definitydigital.com and join us on Twitter, Facebook,
LinkedIn and the Lighting ScienceBlog.

About Medley

Medley is a registered investment adviser under the Investment Advisers Act of
1940 that manages private funds, managed accounts and business development
companies, Medley Capital Corporation (NYSE: MCC) and Sierra Income
Corporation. Medley specializes in credit investing, including direct private
lending and corporate credit related strategies. Medley provides first lien,
second lien and uni-tranche term loans to middle-market companies with an
investment size between $10-100 million. Medley will support acquisition and
growth financings, leveraged buyouts, management buyouts, bank debt
restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is
headquartered in New York with offices in San Francisco.

Contact:

Lighting Science
Samantha McLarty, 321-205-7894
Director of Marketing
samantha.mclarty@lsgc.com
 
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