It’s not LED, Plasma, or OLED.
Wikipedia: Electron Stimulated Luminescence is light produced by accelerated electrons hitting a phosphor (fluorescent) surface in a process known a athodoluminescence.[1][2][3] The light generation process is similar to a cathode ray tube (CRT) but lacks magnetic or electrostatic deflection.[4]
NEW YORK, /PRNewswire/ — Vu1 Corporation (OTC Bulletin Board: VUOC), a developer and manufacturer of mercury-free, energy-efficient general illumination lighting technology, today announced that it has entered into definitive agreements with institutional investors to purchase $2.2 million of securities in a private placement transaction. Under the terms of the transaction Vu1 has agreed to sell an aggregate of approximately 4.9 million shares of its common stock at $0.45 per share and warrants to purchase up to approximately 4.9 million additional shares of its common stock. The warrants to purchase additional shares will be exercisable at an exercise price of $0.60 per share and will expire five years from the closing date.
“These proceeds will allow Vu1 to scale up its manufacturing capabilities to meet the anticipated growing demand for our lighting products,” commented William B. Smith, Chairman. “I am delighted that Vu1’s disruptive lighting technology has been positively endorsed by the institutional investment community; with a further strengthened balance sheet, Vu1 can focus on continuing to deliver against its strategic plan, while reviewing its options for supporting its longer-term growth ambitions.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws. The offering is expected to be consummated by February 8, 2011, subject to customary closing conditions.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the transaction