FOR IMMEDIATE RELEASE
For more information:
John Oakley, Chief Financial Officer, Nexxus Lighting, Inc.
Phone: 704-405-0416
NEXXUS LIGHTING, INC. Announces Proposed FOLLOW-ON Offering of Common Stock
CHARLOTTE, NC – August 28, 2008 -- Nexxus Lighting, Inc. (NASDAQ Capital Market: NEXS) today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed follow-on offering of its common stock. Nexxus Lighting is offering 3,300,000 shares and a selling stockholder of Nexxus Lighting is offering 300,000 shares. The underwriters have an option to purchase an additional 540,000 shares of Nexxus Lighting's common stock to cover over-allotments.
Nexxus Lighting will not receive any proceeds from the sale of its common stock by the selling stockholder.
Canaccord Adams is the sole book-runner of the proposed offering and Needham & Company, LLC will serve as co-manager for the transaction.
There can be no assurance as to whether or when any such offering would be commenced or completed or as to the actual size or terms of any such offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Once available, a preliminary prospectus relating to these securities may be obtained from Canaccord Adams, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110. Email: melissa.krajewski@canaccordadams.com. Fax: (617) 788-1553.
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 SV Lighting, Advanced Lighting Systems, Lumificient and Nexxus Lighting Pool & Spa business units under the Savi®, eLum™, LiveLED™, Super Vision® Fiber Optics and Advanced Lighting Systems™ Fiber Optics brand names.
Nexxus Lighting – Life’s Brighter™ - www.nexxuslighting.com
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.
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