Key Developments: Ascent Solar Technologies Inc (ASTI.BE)

ASTI.BE on Berlin Stock Exchange

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23 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Ascent Solar Technologies Inc announces agreement for private placement - Form 8-K
Wednesday, 2 Apr 2014 12:35pm EDT 

Ascent Solar Technologies Inc:Stock purchase agreement (SPA) with Ironridge Technology Co (division of Ironridge Global IV Ltd).For private placement of upto $6,000,000 newly designated Series C Preferred Stock (Series C Preferred Stock).  Full Article

Ascent Solar Technologies Inc completes $10 mln preferred stock financing with Ironridge Technology Co
Tuesday, 11 Feb 2014 06:00am EST 

Ascent Solar Technologies Inc:Completes the $5 mln second closing under its previously announced Series B preferred stock purchase agreement with institutional investor Ironridge Technology Co., a division of Ironridge Global IV, Ltd.Says received the $5 mln from Ironridge in Nov. 2013 and has now received the second $5 mln.Says it has issued Ironridge shares of its Series B-1 Preferred Stock, which is convertible into shares of common stock at a fixed conversion price of $1.15 per common share.Intends to use the proceeds of the offering to fund continuing operations and accelerated expansion of both traditional and kiosk centric retail channels for its EnerPlex products, aggressive brand building.Says aso to use as the launch of additional EnerPlex products and product lines in 2014.  Full Article

Ascent Solar Technologies Inc enters into definitive agreement for establishment of joint venture with Government of the Municipal City of Suqian in Jiangsu Province-Form 8-K
Thursday, 2 Jan 2014 05:14pm EST 

Ascent Solar Technologies Inc:Says on Dec. 28, 2013, Ascent entered into a definitive agreement for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China.Says this agreement replaces and supersedes the previous framework agreement between Ascent and Suqian which was announced in July 2013.Says in the initial phase of the project, Ascent and Suqian will form a joint venture entity (JV) in which Suqian will inject about $4.8 million in cash and have majority interest of 75 percent.Says Ascent shall inject about $1.6 million in cash and hold a minority interest of 25 percent.Says subsequently, during 2014 Suqian will further inject the balance of the committed $32.5 million.Says while Ascent will contribute its technology and intellectual property, as well as certain equipment from its Colorado facility, thereby increasing its shareholdings progressively up to 80 pct ownership.Says the JV will build a factory to manufacture Ascent's photovoltaic modules.Says Ascent will be required to purchase this factory within the first five years at the initial construction cost, and will also have the right to purchase Suqian's ownership interest in the JV at a cost of 1.5 times Suqian's cash investment.  Full Article

Ascent Solar Technologies Inc Closes Tranche 1 of the $10 Million Registered Direct Financing with Ironridge Technology Co
Monday, 4 Nov 2013 06:00am EST 

Ascent Solar Technologies Inc announced that the closing of initial $5 million tranche as part of an agreement to raise $10 million through a registered direct offering with institutional investor Ironridge Technology Co., a division of Ironridge Global IV LTD. In the transaction, the Company will issue up to $10 million of Series B convertible preferred stock in two tranches. The second tranche of $5 million is expected to close in late 2013 or the early part of 2014. The second tranche preferred stock will be convertible into shares of common stock at a fixed conversion price of either $1.15 or $1.50 per common share.  Full Article

Ascent Solar Technologies Inc Appoints New Chief Financial Officer
Wednesday, 11 Sep 2013 06:00am EDT 

Ascent Solar Technologies Inc announced that Bill Gregorak has been appointed Chief Financial Officer at the Thornton, Colo., based solar panel manufacturer.  Full Article

Ascent Solar Technologies Inc Announces Resignation Of CFO-Form 8-K
Thursday, 15 Aug 2013 04:07pm EDT 

Ascent Solar Technologies Inc reported in its Form 8-K that on August 9, 2013, Gary Gatchell informed the Company that he is resigning his position as Chief Financial Officer (CFO), effective as of August 30, 2013. Mr. Gatchell is resigning in order to accept a position with another company. Mr. Gatchell is not resigning due to any disagreement with the Company regarding its operations, policies or practices. The Company has commenced a search for a new Chief Financial Officer (CFO).  Full Article

Ascent Solar Technologies Inc Announces Establishment Of Joint Venture With Government Of Municipal City Of Suqian-Form 8-K
Tuesday, 9 Jul 2013 04:36pm EDT 

Ascent Solar Technologies Inc reported in its Form 8-K that on July 2, 2013, Ascent Solar Technologies, Inc., (Ascent) entered into a framework agreement for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China (Suqian). The agreement covers a multi-faceted, three-phase project. Completion of all three phases would involve an anticipated investment of up to $500 million over six years, primarily funded by Suqian. Under the framework agreement, in the first phase Ascent and Suqian will form a joint venture entity (JV) in which Ascent will have majority interest of up to 80%. The JV will build a factory to manufacture Ascent's proprietary photovoltaic modules. Ascent will contribute proprietary technology and intellectual property, approximately $1.6 million in cash and certain equipment from its Colorado facility. Suqian will provide cash of approximately $32.5 million as well as rent-free use of a 270,000 square foot factory that is currently being built in the Suqian Economic & Industrial Development Science Park. This factory is expandable to 1,000,000 square feet for phases two and three of the agreement. The total project size of phase one under the agreement is expected to be approximately $160 million.  Full Article

Ascent Solar Technologies Inc Enters Into Securities Purchase Agreement-Form 8-K
Friday, 21 Jun 2013 04:55pm EDT 

Ascent Solar Technologies Inc reported in its Form 8-K that on June 17, 2013, Ascent Solar Technologies, Inc., a Delaware corporation (Company), entered into a Securities Purchase Agreement (SPA) with Seow Seng Wei for the private placement of up to $6,000,000 of Company securities. In the private placement, the Company would issue up to 750,000 shares of convertible redeemable Series A Preferred Stock at a price of $8.00 per share and warrants to purchase up to 2,625,000 shares of common stock of the Company. The Series A Preferred Stock is convertible into Common Stock at a conversion price of $0.80 per share. The Warrants will have a three-year term and an exercise price of $0.90 per share. The private placement will be funded in three tranches. The closing on the initial tranche of 125,000 shares of Series A Preferred Stock and a Warrant to purchase up to 437,500 shares of Common Stock occurred on June 20, 2013, resulting in gross proceeds of $1,000,000 to the Company. The remaining two tranches are expected to fund after a registration statement to be filed by the Company relating to the private placement securities is declared effective by the Securities and Exchange Commission.  Full Article

Ascent Solar Technologies Inc Announces Closing Of Public Offering Of Common Stock
Tuesday, 25 Sep 2012 12:59pm EDT 

Ascent Solar Technologies Inc announced that it has closed its previously announced underwritten public offering of 9,166,700 shares of its common stock at a price of $1.20 per share. Ascent received net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $10.1 million. Ascent has also granted the underwriters a 45-day option to purchase up to an additional 1,375,005 shares of common stock to cover over-allotments, if any. Ascent intends to use the net proceeds from this offering for working capital and for general corporate purposes. Aegis Capital Corp. acted as the sole book-running manager for this offering.  Full Article

Ascent Solar Technologies Inc Announces Proposed Public Offering
Wednesday, 19 Sep 2012 04:50pm EDT 

Ascent Solar Technologies Inc announced its intention, subject to market and other conditions, to commence a public offering of its common stock. Ascent intends to use the net proceeds from the offering for general corporate purposes, including working capital, operations and other general corporate purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering.  Full Article

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