Energy Focus, Inc Enters into an Inventory Financing Facility Pursuant to the Loan and Security Agreement
April 21, 2021 at 04:28 pm EDT
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As previously disclosed, on August 11, 2020, Energy Focus, Inc. entered into an inventory financing facility pursuant to the Loan and Security Agreement (the “Inventory Loan Agreement”) between the Company and Crossroads Financial Group, LLC, a North Carolina limited liability company (“Crossroads”). On April 20, 2021, the Company and Crossroads entered into an amendment to the Inventory Loan Agreement (the “Crossroads Amendment”) to increase the maximum amount that may be available to the Company from $3,000,000 previously to $3,500,000, subject to the borrowing base as set forth in the Inventory Loan Agreement.
Energy Focus, Inc. provides sustainable, energy-efficient lighting and controls systems products for the commercial, military maritime and consumer markets. The Company's commercial products include RedCap emergency battery backup tubular LEDs (TLEDs); EnFocus powerline lighting control platform including dimming (DM) and color tuning (DCT); light-emitting diode (LED) retrofit solutions for existing luminaires, including replacement TLEDs for linear fluorescent lamps, downlights, and retrofit kits for low-bay, high-bay and office applications; and Industrial grade LED Dock lights. Its military maritime market (MMM) LED lighting products include Military-grade Intellitube retrofit TLED and the Invisitube ultra-low EMI TLED and Military-grade fixtures, including LED globe lights, berth lights; high-bay fixtures and LED retrofit kits. The Company's primary target customers for its LED lighting and controls systems are enterprise end-users, as well as contractors or ESCOs.
ENERGY FOCUS, INC. 
