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In a release dated September 30, Ascent Solar stated:
- The offering is being conducted pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. Ascent Solar expects to grant the underwriters a 30-day option to purchase 600,000 additional shares of common stock from Ascent Solar. Net proceeds from the offering are expected to be used for expansion of Ascent Solar's rated production capacity and for general corporate purposes.
- Barclays Capital is the sole book-running manager of the offering. The offering will be made only by means of a preliminary prospectus supplement and accompanying base prospectus, copies of which may be obtained from: Barclays Capital, c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; barclaysprospectus@broadridge.com (phone: 888-603-5847). A copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Security and Exchange Commission's website at sec.gov.
- Ascent Solar announced that Norsk Hydro Produksjon, its largest shareholder, has committed to purchase approximately $5 million of its common stock in a private placement of shares to occur concurrently with (and contingent upon the occurrence of) the closing of the public offering, at a price per share equal to the public offering price. The private placement is being made pursuant to an exemption from registration under the Securities Act of 1933, as amended.
- This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Ascent Solar Technologies is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels, according to the company.
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