Ascent Solar Technologies, Inc., a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company's EnerPlex™ series of consumer products, announced today the receipt of the second tranche of funds from the Stock Purchase Agreement (SPA) previously announced on July 31, 2014.
Ascent entered into the SPA with an Asian-based investor to sell 12 million shares of restricted common stock with no warrants at a fixed price of $0.33 per share. The first tranche of 4 million shares closed on July 29th, 2014. The second tranche consisting of 8 million shares closed on August 11, 2014, resulting in $2.64 million of additional proceeds to the Company. This common stock will be restricted for resale until 6 months after the closure of the transaction. No placement agent or placement fee was involved in this transaction.
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. Ascent Solar is headquartered in Thornton, Colorado.
