EUCLID, Ohio--(BUSINESS WIRE)--US Lighting Group, Inc. (OTC:USLG) (“USLG” or the “Company”), an innovative composite technology manufacturer, today announced that it has entered into a common stock purchase agreement with Alumni Capital Management (“Alumni”), a Miami-based fund, pursuant to which Alumni has agreed to purchase up to $1.0 million of the Company’s common stock. USLG will file a registration statement for the resale of the Alumni shares in the near future, which will remain in effect until the Alumni shares have been sold.
“I’m excited to announce that USLG, which is rapidly transforming into a leading manufacturer of innovative composite outdoor products, has reached an agreement with Alumni Capital Management to acquire up to $1.0 million in our stock,” said Anthony Corpora, Chief Executive Officer. “Alumni Capital is known for investing in unique microcap growth stories and has come to appreciate our stage of development and near-term outlook. Our top line expansion continues unabated, but we need capital to accelerate production and meet increasing demand. We look forward to working with Alumni going forward to serve our customers and invigorate the North American RV market.”
Alumni has not yet purchased any shares, and future purchases are subject to various limitations and contingencies, including the effectiveness of the registration statement. The Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 17, 2023, includes additional information about the Alumni purchase agreement and the terms upon which they would purchase shares.
US Lighting Group (OTC:USLG) is an innovative composites technology manufacturer. Our brands include the following: Cortes Campers, LLC, a brand of high-end molded fiberglass campers; Futuro Houses, LLC, a brand of molded fiberglass modular homes; Fusion X Marine, LLC a high-performance boat designer; and MIG Marine Corporation, a composite manufacturing company that produces molded fiberglass products for the other three subsidiaries as well as private-label brands. All product lines utilize the same manufacturing techniques and raw materials which provide robust diversification across various industries. Our products are made in the USA. The Company is headquartered in Cleveland, Ohio, where it owns a manufacturing and R&D facility. For additional information: uslightinggroup.com
Certain statements in this news release, including, but not limited to, reference to distribution, demand, orders, sales goals, design effects, growth of the production and industries, may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. Statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.