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“Ascent is the leading flexible thin-film solar player in the US; we are seeing a resurgence of innovative OEM demand for thin-film solar solutions, as well as support by government and ESG-conscious investors alike – it’s a very exciting time to be in the renewable energy space.”
Not so exciting for your retail investors...
They give green investing a bad name.
Until pps down to $0.50 or so, they will make R/S again for sue. LOL
that's been going on for years with $ASTI.....
this co has done nothing but screw over its shareholders over and over. disgusting
They started having Options. Maybe some Options-related activity.
Maybe the financing is dilutive.
Be nice if it showed up in improved margins and pps.
Why stock down 23% on this financing news?
Ascent Solar Technologies Secures $50 Million Equity-Based Financing
Ascent Solar Technologies, Inc.
Tue, December 20, 2022 at 5:30 AM PST
ASTI
-23.55%
Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc.
THORNTON, CO, Dec. 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Ascent Solar Technologies, Inc. (NASDAQ: ASTI) (“ASTI” or the “Company”) – ASTI, the leading U.S. innovator in the design and manufacture of featherweight, flexible thin-film photovoltaic (PV) solutions, announced today that it has secured an equity-based financing facility in an aggregate principal amount of up to $50 million from two institutional investors. Bryan Garnier & Co acted as sole placement agent and financial advisor to the Company.
On December 19, 2022, the Company entered into a securities purchase contract (the “Purchase Contract”) with the investors, pursuant to which the Company issued $12,500,000 in convertible advance notes (the “registered advance notes”), in a registered direct offering, for an aggregate purchase price of $11,250,000 in cash, net of an original issuance discount of $1,250,000, and an additional $2,500,000 convertible advance notes (the “private placement advance notes”), in a concurrent private placement transaction, for an aggregate purchase price of $2,250,000 in cash, net of an original issuance discount of $250,000, as well as warrants to purchase up to 2,513,405 shares of common stock. The convertible advance notes issued under the facility will bear interest at a rate of 4.5% per annum, which is payable, at the option of ASTI subject to certain conditions, in kind or in cash, and are convertible, at the option of the investors from time to time, into shares of ASTI’s common stock, in the amounts and on the terms in the convertible advance notes, or repayable in cash at maturity 18 months after issuance. Under the Purchase Contract, beginning 210 days after the entry into the Purchase Contract and subject to the satisfaction of certain other terms and conditions, the Company may offer and sell to one of the investors additional convertible advance notes, not to exceed $1,000,000 (or, with the consent of the investor, $2,000,000) in aggregate principal amount in any 30-day period, in subsequent registered direct offerings at a purchase price equal to 90% of the principal amounts of the notes, for up to a maximum aggregate principal amount of $35,000,000 of additional convertible advance notes during the term of the Purchase Contract. The Purchase Contract contains certain affirmative and negative covenants and events of default.
The Company intends to use the net proceeds of the financing to pay fees and expenses related to the financing and for working capital and other general corporate purposes, which may include, among other things, financing its continued growth, strategic investments in potential partners, capital expenditures and to satisfy other working capital requirements.
“We’re delighted to have secured this capital commitment, particularly in today’s economic climate,” said Jeffrey Max, ASTI President and CEO. “Ascent is the leading flexible thin-film solar player in the US; we are seeing a resurgence of innovative OEM demand for thin-film solar solutions, as well as support by government and ESG-conscious investors alike – it’s a very exciting time to be in the renewable energy space. We believe Ascent’s decades of innovation and manufacturing experience give us a huge advantage.”
“This capital comes at a terrific time, as we are seeking to expand R&D and production to serve an ever-broader base of industries and use-cases in addition to funding our working capital needs,” Max continued. “With a strong new leadership team in place, when strategic growth or investment opportunities arise, we believe ASTI will be ready to move.”
The registered advance note and the underlying shares of common stock were offered by ASTI pursuant to a shelf registration statement on Form S-3, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 21, 2022, amended on November 3, 2022, and declared effective by the SEC on November 7, 2022, and the base prospectus contained therein. The offering was made only by means of a prospectus supplement that forms a part of the registration statement.
Copies of the final prospectus supplement and accompanying base prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting Bryan Garnier Securities LLC at 750 Lexington Avenue, 16th Floor, New York, NY 10022, USA, +1 212-337-7000 or dzack@bryangarnier.com.
Getting real common to see higher buy to sell volume. 3:1 5:1 6:1 And the players still keep the price down. Hopefully just long enough for some insiders to load up at the lower rate. New CEO, New CFO, New board. New production line (now two in US) (and probably first one in Germany is about to come online). So production has now gone from 1 shift on one machine to 3 shifts on 3 machines. That should equal 9 times the production / income on the year end statement. Debt should be zero. Either paid off or converted to shares. Additional income from Tube Solar for meeting the production goals. Speaking of Tube Solar - their profits and share price are up. Things are really looking up, way up.
ASTI added options contracts trading recently.
Someone please explain? After hours at 16:08:40 1 share traded and went up $0.14 and the at 17:13:27 1 share traded and it went up $0.07
But all day 70k shares trade and it really didn’t move.
New website coming? (Under construction)
Quarterly probably next Friday????
Pictures out show two manufacturing lines side by side?
Multiple job openings on Indeed?
Time to double down? Just asking?
Indeed has a job posting for a “Quality Engineering Director” for $120,000 to $170,000 for ASTI
Thinking third quarter 10-Q might be out the 11th or sooner
The people buying in the $6s and $7s were complete NUT cases imo.
Also another buy order in for under 3$...rinse, repeat.
Sold half back at 6$... remainder will be put on orders to sell at much higher levels. That's my long term beer money fund.
Did you sell you $3 buys at $7+?
Last trade S5.50 = .0011 Pre-Split
I beleive we will hear about additional institutional investors soon. When comparing to Momentus' list ASTI still has a long way to go.
ASTI: Lousy revs., ZERO profits, (recent) new CEO from outer-space company routine --- and now, it SOARS to the MOON (no pun intended) --- behind NOTHING whatsoever!!! And don't ya-all just LOVE the so-called 'EXPLANATIONS' about such crap, like below today??? Where the "ARTICLE" divulges NO substantive information at all as to WHY the price is suddenly SOARING!!!
https://seekingalpha.com/news/3893301-ascent-solar-nearly-doubles-prompting-several-trading-halts
ts gonna hav to go to the moon for me to B E
All that stop and go this morning making me car sick... on the way to the moon!
33 million outstanding I see what’s the float?
Well then, guess I should've held out for that $3.00 mark. Nice move for those who were patient.
Missed the dip yesterday, but avrg'd down and bought about a 1/3 of my current holdings at 3.35 today. Still see this as a potential for phenominal upside long-term.
Excess of $11-12 MILLION in stock as an “Inducement Grant” to new CEO??
Shouldn't have said 3's. I'll double down at 3 or less fo sho.
Hit $3.66. Did you double down?
If? Look at the trend line. Maybe $2s coming.
If it hits 3's I'm doubling down.
Now we need SpaceX to contract Momentus for help with their Starlink troubles with additional sat.deployments and orbital realignment missions and help bolster future production orders for Ascent.
If anyone wants to see this stock hit 100$+ it is now Jeffrey Max (and me!).
With 40 years of R&D and a comprehensive patent portfolio behind it, Ascent Solar is the leading provider of CIGS solar technology. Ascent’s unique patented monolithic integration process enables the highest level of flexibility, efficiency, durability & weight savings, revolutionizing the way solar power can be used in everyday life. Ascent Solar’s Research and Development and its 4.5 MW nameplate production facility is in Thornton, Colorado. Ascent has cemented itself as the leader in the manufacturing of innovative, high performance, flexible thin-film solar panels for both existing and emerging agrivoltaic, space, and aerospace applications.
Tube Solar AG uses Ascent solar films to enable farmers to successfully balance farming solar and agriculture
Silent Falcon UAV using Ascent thin films achieves a 50% range extension
NASA tests validate Ascent's superior performance for space environments
We bring together 20+ years of R&D, 17 years of manufacturing experience, numerous awards and a comprehensive IP and patent portfolio to to cement our leadership in the photovoltaics market.
Our thin film PV panels are manufactured using cutting-edge CIGS (Copper-Indium-Gallium-Selenide) with patented monolithic integration.
Our patent-protected processes enable us to precisely apply layers of these elements on a thin (25micron) polyamide substrate to create resilient and featherweight panels that convert sunlight into electric power.
COMPANY NEWS
April 18, 2024
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