* 5.25 mln shares priced at $4.15 apiece
* Offering at 9 pct discount
* To use proceeds to complete FAB2 production plant
* Shares fall to four-week lows
Nov 11 U.S. photovoltaic module maker Ascent
Solar Technologies Inc ASTI.O said its share sale was priced
at 9 percent discount to its Wednesday close, dragging its
shares down 15 percent to a four-week low on Thursday morning.
The Thornton, Colorado-based company, which on Wednesday
said it will commence an underwritten public offering of common
stock, is offering 5.25 million shares at $4.15 apiece.
Shares of the company, which have jumped 30 percent since
it signed a distribution deal with DisaSolar on Oct. 5, fell to
an intraday low of $3.88 before paring some losses to trade
down 13 percent at $3.98.
Ascent Solar, which makes thin-film photovoltaic modules
that convert sunlight into electricity, said it will use net
proceeds from the offering to complete its 30-megawatt FAB2
module manufacturing plant, its second in Colorado.
The company, which also makes building-integrated
photovoltaics, said underwriters will have an option to
purchase up to 787,500 additional shares from it. Cowen and
Company LLC acted as the sole book-running manager for the
offering, it said.
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by