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This Pooch is gonna need another 1-for-5,000 R/S to stay on Nasdaq.
Oh for the glory days of OTC & nearly 1000 fold increase from $.0001 to $.096 in 6 months.
Oh for the glory days for ASTI .. oh for those glory days .. oh for those glory days.
And since Dec. 19, 2022, apparently planning debt of another $35plus Millions?
To the Stockholders of Ascent Solar Technologies, Inc.: The enclosed information statement (the “Information Statement”) is being distributed to the holders of record of the issued and outstanding shares of common stock, par value $0.0001 per share (“Common Stock”), of Ascent Solar Technologies, Inc., a Delaware corporation (the “Company,” “we”, “our” or “us”), as of December 19, 2022 (the “Record Date”), in connection with the corporate actions described below. The holders of a majority of the voting power of our outstanding shares of capital stock by written consent (the “Written Consent”), in lieu of a meeting, pursuant to Section 228 of the Delaware General Corporation Law (the “DGCL”) and Section 2.8 of Article II of our bylaws, approved the following corporate action (the “Authorized Issuance”):
•the potential issuance of shares of Common Stock in excess of 19.99% of the currently issued and outstanding shares of Common Stock of the Company to two institutional investors (each, an “Investor” and collectively, the “Investors”), in connection with the Company’s entry into a Securities Purchase Contract, dated December 19, 2022, by and between the Company and the Investors, for the issuance of:
A.$12,500,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible Advance Notes, for a purchase price of $11,250,000 in cash, net of an original issuance discount of $1,250,000 (the “Registered Advance Notes”) to the Investors, and which will bear interest at a rate of 4.5% per annum, payable, at the option of the Company, in kind or in cash, subject to certain conditions, and which is convertible, at the option of the holders from time to time, into shares of Common Stock in the amounts and on the terms set forth in the Registered Advance Notes, or repayable in cash at maturity 18 months after the issuance thereof, pursuant to a direct registered offering;
B. (i) an additional $2,500,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible Advance Notes, for a purchase price, together with the warrants described in (ii) below, of $2,250,000 in cash, net of an original issuance discount of $250,000 (the “Private Placement Advance Notes” and, together with the Registered Advance Notes and Additional Advance Notes (as defined below), the “Advance Notes”) to the Investors, and which will bear interest at a rate of 4.5% per annum, payable, at the option of the Company, in kind or in cash, subject to certain conditions, and is convertible, at the option of the holders from time to time, into shares of Common Stock in the amounts and on the terms set forth in the Private Placement Advance Notes, or repayable in cash at maturity 18 months after the issuance of the Private Placement Advance Note and (ii) warrants granted to the Investors to purchase up to 2,513,406 shares of Common Stock, which have a five year term and an exercise price of $3.93 per share, in each case subject to adjustment in accordance with the terms thereof, in each case, pursuant to a concurrent private placement; and
C.additional Advance Notes for a purchase price equal to 90% of the principal amounts thereof (the “Additional Advance Notes”) that the Company may request be issued and sold to one of the Investors (the “Additional Advance Notes Investor”), in a registered direct offering, in an aggregate principal amount not to exceed $1,000,000 (or, with the consent of the Additional Advance Notes Investor, $2,000,000) in any given month, up to an aggregate principal amount of $35,000,000 of Additional Advance Notes; provided, however, that no more than one Additional Advance Note may be issued during any 30-day period.
The “Consenting Stockholders” are, collectively, Crowdex Investments, LLC, BD 1 Investment Holding, LLC, TubeSolar AG, Global Ichiban Limited, Lucro Investments VCC — ESG Opportunities Fund, and Nanyang Investment Management Pte. Ltd. As of the close of business on the Record Date, the Consenting Stockholders together owned 27,446,418 shares of the Company’s Common Stock, representing approximately 80.9% of the voting power of the outstanding shares of capital stock of the Company, on a combined basis.
The Written Consent constitutes the only stockholder approval required to approve the Authorized Issuance under the DGCL and the Company’s charter and bylaws. The Board of Directors is not soliciting your proxy or consent in connection with the Authorized Issuance and no proxies or consents are being requested from stockholders. The Information Statement is being furnished only to (1) inform the Company’s stockholders of the action described above before it takes effect in accordance with Rule 14c-2 promulgated under the Securities Exchange Act of 1934, as amended, and (2) provide the notice required under Section 228(e) of the DGCL. The Information Statement is being distributed and made available on or about January 3, 2023 to stockholders of record as of the Record Date. The Authorized Issuance shall be effective on or about January 23, 2023, or approximately 20 days after this Information Statement is first distributed and made available to stockholders.
THE INFORMATION STATEMENT IS FOR YOUR INFORMATION ONLY. YOU DO NOT NEED TO DO ANYTHING IN RESPONSE TO THE INFORMATION STATEMENT. THIS IS NOT A NOTICE OF A MEETING OF STOCKHOLDERS AND NO STOCKHOLDER MEETING WILL BE HELD TO CONSIDER ANY MATTER DESCRIBED IN THE INFORMATION STATEMENT. WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY. By Order of the Board of Directors, /s/ Jeffrey A. Max Jeffrey A. Max President and CEO January 3, 2023
$ASTI has $4.96M of Debt
Ascent Solar Technologies: Burning Cash And Far From Profitable
Jan. 08, 2023 4:00 AM ET
https://seekingalpha.com/article/4568526-ascent-solar-technologies-are-burning-cash-and-far-from-profitable?mailingid=30185736&messageid=2800&serial=30185736.484&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=30185736.484
Conclusion
Ascent Solar Technologies is a company producing a one of a kind technology of ultra thin and flexible PV film. They have managed to secure some government contracts and have a pretty niche sector to generate revenues from.
With a balance sheet in shambles and a revenue report that leaves question marks it doesn't seem ASTI are right now where they could be, with 50% less cash compared to last year because of a departing CEO and investments in current assets. Another part keeping me away is the large increase in outstanding shares. It's a new company in need of raising capital, so it should be expected. But there are limits.
The share dilution of ASTI
.3 1.4 3.9 22.5
I think that investing right now into ASTI is very dangerous as the dilution is incredibly high and the company is not even profitable yet. This makes the valuation very high and creates a large downside risk. I would sell any shares I had if I were invested at these times. Until the company manages to be profitable I think there is too much risk here and therefore will stay away.
“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.
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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