Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of consumer
and off-grid products integrated with state-of-the-art, flexible
thin-film photovoltaic modules, announced today the second closing of
Series A Preferred Stock announced on June 18, 2013. The closing
resulted in proceeds of $3.0 million for the sale of 375,000 shares of
preferred stock and 1,312,500 warrants exercisable at $0.90 per common
share. Tranche 3 is expected to close in August 2013 with further
proceeds of $2.0 million.
Victor Lee, Ascent's President and CEO said, "We are pleased to complete
the second closing on this previously announced vote of confidence in
our continued paradigm shift and strategy for growth."
In addition, Ascent has regained compliance with the Nasdaq Stock Market
Listing Rules that require maintenance of a minimum $1.00 bid price. On
August 5, 2012, the Company received notification from The Nasdaq
Listing Qualifications department that the Company had regained
compliance with the minimum bid price requirement set forth in Nasdaq
Listing Rule 5450(a)(1) after maintaining a closing bid price equal to
or in excess of $1.00 for twenty consecutive trading days and that the
Company's noncompliance with that rule, as announced on December 7,
2012, had been rectified.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic
modules with substrate materials that are more flexible, versatile and
rugged than traditional solar panels. Ascent Solar modules can be
directly integrated into consumer products and off-grid applications, as
well as aerospace and building integrated applications. Ascent Solar is
headquartered in Thornton, Colorado. For more information, go to www.ascentsolar.com.
About EnerPlex:
The EnerPlex brand represents Ascent's line of consumer products. These
products, many of which are integrated with Ascent's transformational
CIGS technology, provide consumers with the ability to integrate solar
into their everyday lives, while enabling them to free themselves and
their electronics from the outlet. For more information on the EnerPlex
brand and to see the product line, please visit goenerplex.com.
Forward-Looking Statements
Statements in this press
release that are not statements of historical or current fact
constitute "forward-looking statements." Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors
that could cause the Company's actual operating results to be materially
different from any historical results or from any future results
expressed or implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"believes," "belief," "expects," "expect," "intends," "intend,"
"anticipate," "anticipates," "plans," "plan," to be uncertain and
forward-looking. The forward-looking statements contained herein are
also subject generally to other risks and uncertainties that are
described from time to time in the Company's filings with the Securities
and Exchange Commission.
Copyright Business Wire 2013