Ascent Solar announces pricing of $2M public offering

Ascent Solar (ASTI) Technologies announced the pricing of a public offering of an aggregate of 1M shares of its common stock and warrants to purchase up to 1M shares of common stock, at a combined public offering price of $2.00 per share and accompanying warrant. The warrants will have an exercise price of $2.00 per share, will be exercisable immediately upon issuance, and will expire on the five-year anniversary of the initial issuance date. The closing of the offering is expected to occur on or about June 30, subject to the satisfaction of customary closing conditions. The aggregate gross proceeds to the company from the offering are expected to be $2M before deducting the placement agent’s fees and other offering expenses payable by the company. The company intends to use the net proceeds from this offering for working capital, product development activities, general and administrative expenses and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.