Ascent Solar Technologies Inc ASTI

Technology Semiconductors

Ascent Solar Technologies, Inc. is a solar technology company that manufactures and sells photovoltaic (PV) solar modules. Its technology provides renewable power solutions to production and specialty solar markets where traditional rigid solar panels are not suitable, including aerospace, agrivoltaics, and niche manufacturing/construction sectors. It designs and develops finished products to design and develop integrated solutions for products, such as satellites, spacecraft, airships, and fixed-wing unmanned aerial vehicles (UAVs). It is also engaged in developing its zinc oxysulfide process. The Company manufactures its products by affixing a thin Copper-Indium-Gallium-diSelenide (CIGS) layer to a plastic substrate using a large format, roll-to-roll process that permits it to fabricate its PV modules in an integrated sequential operation. The Company uses monolithic integration techniques, which enable it to form complete PV modules with back-end assembly of inter-cell connections.

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Ascent Solar Technologies Inc

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Post by AveragePennyon Aug 05, 2021 10:47am

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Post# 33654547

ASTI New $10MM Funding Agreement

https://www.globenewswire.com/news-release/2021/08/05/2275321/0/en/Ascent-Solar-Announces-New-10MM-Funding-Agreement-with-German-Controlling-Shareholder.html

On August 2, 2021, the Company entered into a securities purchase agreement (“SPA”) with BD 1 Investment Holding, LLC, to sell 666.67 million shares of Common Stock of the Company at the prevailing market price of $0.015 per share in exchange for new funding of $10MM (the “Shares”). Pursuant to the SPA, BD 1 shall complete the transaction in two tranches, with the first tranche of $5MM to close on or before August 31, 2021, and the second tranche of $5MM to close (i) on or before October 31, 2021 or (ii) within five business days (if later than October 31, 2021) of the effective date of the authorized share increase to be filed by the Company. The Shares shall be unregistered and subject to the standard selling restrictions in accordance with SEC regulations governing controlling shareholders.

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Rig Count Soars as Utilization Surpasses Industry Averages