Ascent Solar Technologies, Inc. Announces Successive Closings of Public Offering of Common Stock and Pre-Funded Warrants at $0.14 Per Share.

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THORNTON, Colo., April 18, 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 second and third closings under its previously announced "best efforts" public offering, at a per share offering price of $0.14.2,550,000 shares of common stock and 11,735,714 Pre-Funded Warrants, representing gross proceeds of $2 million before deducting offering expenses, were sold in the final closing.

The net proceeds from of the second and third closings of this offering (i) were utilized to pay $1.8 million to purchase and cancel the remaining 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, and (ii) the balance will be used for general and administration expenses and other general corporate purposes.

As a result of the closings of the public offering, the Company was able to repurchase and cancel a total of 5,596,232 warrants with an exercise price of $1.76 per share that were issued with our secured notes issued in December 2022.

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Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United States

Topics: IPOs Press Releases ASTI News

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News Sentiment: Negative

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Article Type: News Report

Published On: 2024-04-18 @ 21:11:53 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

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