Medley Capital Agents $53MM Lighting Science Facility
Lighting Science announced that it entered into a new $53 million credit facility agented by Medley Capital. Proceeds from the transaction will be used to refinance existing credit facilities and 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. 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 CEO.
Lighting Science is a global provider of environmentally friendly and energy-efficient lighting solutions.