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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... see more

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Ascent Solar Technologies Inc > ASTI New $10MM Funding Agreement

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Post by AveragePenny on Aug 05, 2021 10:47am

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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