FOR IMMEDIATE RELEASE
December
16, 2009
For
more information: Gary Langford, Chief
Financial Officer, Nexxus Lighting, Inc.
Phone:
704 405-0416
Nexxus Lighting
Prices Follow-on Public Offering of 5,000,000 Shares of Common Stock
Charlotte,
NC – December 16, 2009 – Nexxus
Lighting, Inc. (NASDAQ Capital Market: NEXS) today announced that it priced its
follow-on public offering of 5,000,000 shares of common stock at $3.00 per
share on December 15, 2009. The closing
of the public offering is subject to customary closing conditions and the
shares are expected to be delivered on December 21, 2009. Nexxus Lighting has granted the underwriters
a 30-day option to purchase up to an additional 750,000 shares of common stock
at the public offering price to cover any over-allotments. Nexxus Lighting currently expects to use the
net proceeds of this offering for working capital and general corporate
purposes, including the planned growth of its Array™ Lighting LED replacement
lamp business, as well as the repayment of certain indebtedness.
Canaccord
Adams Inc. served as the sole book-running manager for the public
offering. Wedbush Securities Inc. served
as co-manager for the public offering.
Investors are advised to carefully consider the risks involved in
investing in the common stock. The
prospectus, dated December 15, 2009, contains this and other information about
Nexxus Lighting and should be read carefully before investing. A copy of the prospectus may be obtained from
Canaccord Adams Inc., Attn: Syndicate Dept., 99 High Street, 11th Floor,
Boston, Massachusetts 02110.
A
registration statement relating to these securities has been filed with the
Securities and Exchange Commission and has become effective. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
Any offer or sale will be made only by means of the written prospectus forming
part of the effective registration statement for the offering.
About
Nexxus Lighting, Inc.
Nexxus
Lighting is a leader in advanced lighting technology, including solid-state LED
and fiber optic lighting systems and controls used in commercial,
architectural, signage, swimming pool, entertainment and retail lighting. Nexxus Lighting sells its products through
its Commercial Lighting, Lumificient and Nexxus Lighting Pool & Spa
divisions under the Array™ Lighting, Savi®, eLum™, LiveLED™, Super Vision® and
Lumificient™ brand names.
Nexxus
Lighting – Life’s Brighter!® www.nexxuslighting.com
Forward-Looking
Statements
Certain
of the above statements contained in this press release are forward-looking
statements that involve a number of risks and uncertainties. Such forward-looking statements are within
the meaning of that term in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Reference is made to Nexxus Lighting’s
filings under the Securities Exchange Act for factors that could cause actual
results to differ materially. Nexxus
Lighting undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise. Readers are cautioned that
any such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those indicated in the forward-looking statements as a result
of various factors. Readers are
cautioned not to place undue reliance on these forward-looking statements.