LPBVLow-Pressure Ball Valve
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In conjunction with the acquisition of LPBV, the Company also announced that it has sold 2,083,333 shares of common stock to LED Holdings, LLC ("LED Holdings") for proceeds of US$10,000,000.
Rao added, "I believe the combination of LSG and LPBV creates one of the most innovative and diversified LED lighting solutions company with global presence and comprehensive capability across the emerging Digital Lighting Value Chain.
We welcome the associates and partners of LPBV to the Lighting Science family and are excited about the prospects of driving growth and innovation globally", added Mr.