![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, September 07, 2021 6:18:42 AM
Ascent Solar Receives $5M In First Tranche of BD 1 Funding BD 1 Investment Holding, LLC Completes First Tranche of $10M Funding Commitment--2nd Tranche Set for Fourth Quarter 2021 THORNTON, CO, Sept. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ascent Solar Technologies, Inc. (Ascent Solar" or the "Company") (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight, flexible thin-film photovoltaic (PV) solutions, is pleased to announce that the Company has received $5M from BD 1 Investment Holding, LLC ("BD 1"), the largest stakeholder of Ascent Solar, as the first tranche of a $10M funding commitment pursuant to the securities purchase agreement dated August 2nd, 2021 (SPA). As previously announced, the Company entered into the SPA with BD 1 to sell 666.67 million shares of Common Stock of the Company (the "Shares"), at the prevailing market price of $0.015 per share, in exchange for a $10M funding commitment. Management indicated that the $10M funding from BD 1 would be delivered in two tranches of $5M each, whereby the Shares issued would likewise be made in two equal corresponding issuances of 333.33 million shares per tranche of funding. Management anticipates the second tranche of $5M to be funded by BD 1 on or before October 31st, 2021. "Considering the extraordinary challenges that the Company faced in 2020, we believe that this investment is a strong vote of confidence in our management team, as well as the overall value potential of Ascent Solar," said Victor Lee, President and CEO of Ascent Solar Technologies, Inc. "I also believe it is a testament to our diligent focus on the restructuring and recapitalization of the Company, which has allowed for fundings such as this to be possible and should allow for future opportunities to unveil themselves." Management indicated that this tranche of capital should enable Ascent Solar to concentrate primarily on capacity ramp-up, technological improvements and a sales development strategy. Mr. Johannes Kuhn, principal owner of BD 1, said, "I believe Ascent Solar's creative use of proprietary monolithic-integration technology on flexible polyimide substrate, and the resultant 'best in class' Specific Power of its modules, is clearly state of the art and cannot be easily replicated. We have evaluated many solar ventures, but none have a management team that exhibits the wealth of experience, technological know-how, or possess a solar technology that in our opinion, can rival Ascent Solar." "This is why we're committed to working closely with Ascent Solar's management team, to achieve the long-term objectives of the Company. We are confident that Ascent Solar will become a commercially viable solar company, and a market leader in the high value specialty, PV solar marketspace." Mr. Lee concluded, "BD 1 works closely with a group of successful and well-heeled German investors who hold a controlling interest in Ascent Solar, who not only understand the solar marketspace, but have identified Ascent Solar as the industry's future market leader. With their continued support, I am very optimistic, and look forward to stronger years ahead as our high-value, PV market focus really begins to take shape."
Recent ASTI News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 08:30:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 09:53:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:52:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:51:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:49:56 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 06/06/2024 08:35:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/30/2024 12:05:09 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/30/2024 12:00:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 09:27:23 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/23/2024 09:26:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/16/2024 08:45:14 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/16/2024 08:40:50 PM
- Ascent Solar Collaborates with University of Stuttgart IGTE for the Development and Distribution of Sustainable Power Generation Technology • GlobeNewswire Inc. • 05/16/2024 12:30:00 PM
- Ascent Solar Technologies Receives Firm Order of Thin-Film PV from Mega-Constellation Satellite Manufacturer to Power Next Generation Hardware • GlobeNewswire Inc. • 05/14/2024 12:55:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:10:49 PM
- Ascent Solar Technologies, Inc. Announces Second and Third Closings of Public Offering of Common Stock and Pre-Funded Warrants at $0.14 Per Share • GlobeNewswire Inc. • 04/18/2024 09:11:53 PM
- Momentus and Ascent Solar Technologies Partner to Bring Leading-Edge Solar Arrays to Market • GlobeNewswire Inc. • 04/17/2024 02:00:00 PM
- Momentus and Ascent Solar Technologies Partner to Bring to Market Leading-Edge Solar Arrays • Business Wire • 04/17/2024 02:00:00 PM
- Ascent Solar Technologies, Inc. Announces Initial Closing of Public Offering of Common Stock and Pre-Funded Warrants • GlobeNewswire Inc. • 04/12/2024 09:00:00 PM
- Ascent Solar Technologies, Inc. Announces Pricing of $6,000,000 Public Offering of Shares of Common Stock • GlobeNewswire Inc. • 04/10/2024 12:48:54 PM
- Ascent Solar Technologies Achieves CIGS Technology Power Generation Milestones at Production Scale with Thin Film • GlobeNewswire Inc. • 03/25/2024 02:30:00 PM
- Ascent Solar Technologies Announces Substantial Debt Reduction and Plan for Full Payoff • GlobeNewswire Inc. • 03/21/2024 01:25:00 PM
- Ascent Solar Technologies Announces Warrants Repurchase Agreements • GlobeNewswire Inc. • 03/14/2024 01:25:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/11/2024 09:15:11 PM
- Ascent Solar Technologies Provides Corporate Update Detailing Customer Pipeline and Revenue Potential • GlobeNewswire Inc. • 03/08/2024 03:00:00 PM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM
Element79 Gold Corp Files for OTCQB Uplisting, Provides Financial Update • ELEM • Jun 11, 2024 9:25 AM