Ascent Solar Closes Tranche 2 Financing and Regains Nasdaq Compliance
THORNTON, Colo. -- August 7, 2013
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of consumer and
off-grid products integrated with state-of-the-art, flexible thin-film
photovoltaic modules, announced today the second closing of Series A Preferred
Stock announced on June 18, 2013. The closing resulted in proceeds of $3.0
million for the sale of 375,000 shares of preferred stock and 1,312,500
warrants exercisable at $0.90 per common share. Tranche 3 is expected to close
in August 2013 with further proceeds of $2.0 million.
Victor Lee, Ascent's President and CEO said, "We are pleased to complete the
second closing on this previously announced vote of confidence in our
continued paradigm shift and strategy for growth."
In addition, Ascent has regained compliance with the Nasdaq Stock Market
Listing Rules that require maintenance of a minimum $1.00 bid price. On August
5, 2012, the Company received notification from The Nasdaq Listing
Qualifications department that the Company had regained compliance with the
minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1)
after maintaining a closing bid price equal to or in excess of $1.00 for
twenty consecutive trading days and that the Company's noncompliance with that
rule, as announced on December 7, 2012, had been rectified.
About Ascent Solar Technologies:
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. For more information, go to www.ascentsolar.com.
The EnerPlex brand represents Ascent's line of consumer products. These
products, many of which are integrated with Ascent's transformational CIGS
technology, provide consumers with the ability to integrate solar into their
everyday lives, while enabling them to free themselves and their electronics
from the outlet. For more information on the EnerPlex brand and to see the
product line, please visit goenerplex.com.
Statements in this press release that are not statements of historical or
current fact constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other unknown
factors that could cause the Company's actual operating results to be
materially different from any historical results or from any future results
expressed or implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes," "belief,"
"expects," "expect," "intends," "intend," "anticipate," "anticipates,"
"plans," "plan," to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other risks and
uncertainties that are described from time to time in the Company's filings
with the Securities and Exchange Commission.
Ascent Solar Technologies
Investor Relations Contact:
Brion D. Tanous, 310-541-6824
Ascent Solar Technologies
Justin R. Jacobs, 1-720-872-5194
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