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Ascent Solar Slumps Most on Record on Secondary Offering

Sept. 20 (Bloomberg) -- Ascent Solar Technologies Inc., a U.S. maker of thin-film solar panels, fell the most on record after announcing plans to raise about $11 million in a secondary offering of stock.

Ascent fell 29 percent to $1.20 at the close in New York, the most since its initial public offering in 2006.

Ascent will offer 9.17 million shares at $1.20 each, according to a statement released after the close of regular trading yesterday. The transaction is expected to close on Sept. 25 and the Thornton, Colorado-based company will use the proceeds for general corporate purposes.

Aegis Capital Corp. is managing the offering.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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