Ndustrial.io, Inc. announced that it expects to receive $6 million in funding
April 20, 2021
Share
ndustrial I.O., Inc. announced a private placement of 10,607,641 series A preferred shares at a price of $0.56563 per share for gross proceeds of $6,000,000 on April 21, 2021. The shares are convertible into common shares of the company at a fixed conversion price of $0.56563 per share. The shares carry non-cumulative dividend rate of 8% per annum. The round will be raised at post money valuation of $14,028,854.
Orion Energy Systems, Inc. provides light emitting diode (LED) lighting systems, wireless Internet of Things (IoT) enabled control solutions, project engineering, energy project management design, maintenance services and electric vehicle (EV) charging station installation services. The Companyâs segments include Orion Lighting Division, which develops and sells lighting products and provides construction and engineering services for commercial lighting and energy management systems; Orion Maintenance Division, which provides retailers, distributors and other businesses with maintenance, repair and replacement services for the lighting and related electrical components deployed in their facilities, and Orion Electric Vehicle Charging Division that offers EV charging expertise, sells and installs sourced electric vehicle charging stations with related software subscriptions and renewals and provides EV installation solutions with ongoing support to all commercial verticals.
ORION ENERGY SYSTEMS, INC. 
