Lighting Science Group Corp. (LSCG)

[johnnyfiber]

Assuming no further changes to LSG's equity, following the recapitalization, LSG expects to have 125,485,985 shares of common stock outstanding and no shares of preferred stock outstanding.

Prior to the recapitalization, Pegasus held approximately 73.2% of the shares of LSG's common stock on a fully diluted basis and preferred stock of LSG with an aggregate liquidation preference of approximately $122 million. Following the recapitalization, including the sale of $25 million of common stock and the resulting anti-dilution adjustments to the exercise price of certain outstanding warrants (and assuming no other changes to LSG's equity), Pegasus will hold approximately 80.0% of the shares of LSG's common stock on a fully diluted basis and no shares of LSG's preferred stock and, therefore, all prior preferences of such preferred stockholders will be eliminated.