THORNTON, Colo., April 12, 2024 (GLOBE NEWSWIRE) — Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (NASDAQ:ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced the initial closing its previously announced “best efforts” public offering. 12,629,460 shares of common stock and 9,426,570 Pre-Funded Warrants, representing gross proceeds of $3.09 million before deducting offering expenses, have been sold. The prefunded warrants are immediately exercisable at a price of $0.0001 per share of common stock and only expire when such prefunded warrants are fully exercised. The offering will remain open until the earlier of (i) April 26, 2024; or (ii) such date as the Company determines to terminate the offering.
We intend to use the net proceeds from this offering, together with our existing cash, to (i) pay approximately $200,000 to retire an outstanding cash payable related to our secured notes issued in December 2022, (ii) pay $1.8 million to purchase and cancel 2,798,116 warrants with a current exercise price of $1.76 per share that were issued with our secured notes issued in December 2022 that would adjust to 35,277,248 warrants with an exercise price of $0.14 (at an offering price of $0.14 per share), if not purchased and (iii) for general and administration expenses and other general corporate purposes.
Dawson James …
Full story available on Benzinga.com
THORNTON, Colo., April 12, 2024 (GLOBE NEWSWIRE) — Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (NASDAQ:ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced the initial closing its previously announced “best efforts” public offering. 12,629,460 shares of common stock and 9,426,570 Pre-Funded Warrants, representing gross proceeds of $3.09 million before deducting offering expenses, have been sold. The prefunded warrants are immediately exercisable at a price of $0.0001 per share of common stock and only expire when such prefunded warrants are fully exercised. The offering will remain open until the earlier of (i) April 26, 2024; or (ii) such date as the Company determines to terminate the offering.
We intend to use the net proceeds from this offering, together with our existing cash, to (i) pay approximately $200,000 to retire an outstanding cash payable related to our secured notes issued in December 2022, (ii) pay $1.8 million to purchase and cancel 2,798,116 warrants with a current exercise price of $1.76 per share that were issued with our secured notes issued in December 2022 that would adjust to 35,277,248 warrants with an exercise price of $0.14 (at an offering price of $0.14 per share), if not purchased and (iii) for general and administration expenses and other general corporate purposes.
Dawson James …
Full story available on Benzinga.com
THORNTON, Colo., April 12, 2024 (GLOBE NEWSWIRE) — Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (NASDAQ:ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced the initial closing its previously announced “best efforts” public offering. 12,629,460 shares of common stock and 9,426,570 Pre-Funded Warrants, representing gross proceeds of $3.09 million before deducting offering expenses, have been sold. The prefunded warrants are immediately exercisable at a price of $0.0001 per share of common stock and only expire when such prefunded warrants are fully exercised. The offering will remain open until the earlier of (i) April 26, 2024; or (ii) such date as the Company determines to terminate the offering.
We intend to use the net proceeds from this offering, together with our existing cash, to (i) pay approximately $200,000 to retire an outstanding cash payable related to our secured notes issued in December 2022, (ii) pay $1.8 million to purchase and cancel 2,798,116 warrants with a current exercise price of $1.76 per share that were issued with our secured notes issued in December 2022 that would adjust to 35,277,248 warrants with an exercise price of $0.14 (at an offering price of $0.14 per share), if not purchased and (iii) for general and administration expenses and other general corporate purposes.
Dawson James …Full story available on Benzinga.com Read MoreASTI, News, IPOs, Press Releases IPOs
