Orion Replaces Expiring Shelf Registration with Filing of $100M Universal Shelf Registration Statement

MANITOWOC, Wis., March 02, 2020 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), - a provider of LED lighting and turnkey energy project solutions, including controls and integrated IoT capabilities, announced today that it has filed a new universal shelf registration statement with the SEC to allow the company to potentially offer up to $100 million in debt securities, common stock, preferred stock, warrants and other securities or any combination of such securities. The new shelf registration statement will replace the company’s existing $75 million shelf registration statement, which expires on March 7, 2020.

The new shelf registration statement provides Orion the flexibility to publicly offer and sell from time to time debt securities, common stock, preferred stock, warrants and other securities in amounts, at prices and on terms announced if and when the securities are ever offered. The specifics of any potential future offerings, along with the use of proceeds of any such securities offered by the company, will be described in detail in a prospectus supplement at the time of any such offering.

Mike Altschaefl, Chief Executive Officer of Orion Energy Systems, said, “We consider this filing to be a proactive step to support our continued growth by maintaining our future ability to raise public equity or debt capital to potentially expand existing businesses, fund potential acquisitions or invest in other growth opportunities.”

The new shelf registration statement has been filed with the SEC but has not yet become effective. The securities referred to in this press release may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes 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 the registration or qualification under the securities laws of any such state or jurisdiction.

About Orion Energy Systems
Orion is a provider of LED lighting and turnkey energy project solutions designed to reduce energy consumption and enhance business performance and efficiency. Orion designs, manufactures, markets and manages the installation and maintenance of LED solid-state lighting systems, along with integrated smart controls. Orion systems utilize patented design elements to deliver industry-leading energy efficiency, enhanced optical and thermal performance and ease of installation, providing long-term financial, environmental, and work-space benefits to a diverse customer base, including nearly 40% of the Fortune 500.