Ascent Solar raises $29.9 million in public offering of common stock

Wed. October 07, 2009; Posted: 02:32 PM

Oct 07, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- ASTI | Quote | Chart | News | PowerRating -- Ascent Solar Technologies, Inc., a US-based manufacturer of thin-film monolithically-integrated CIGS flexible photovoltaic modules, has completed a public offering of 4.6 million shares of its common stock at a price of $6.50 per share for total gross proceeds of $29.9 million.

Update on October 1, 2009:

Ascent Solar has priced a public offering of 4.6 million shares of its common stock at a price of $6.50 per share.

Ascent Solar has granted the underwriters a 30-day option to purchase up to 0.692 million additional shares of common stock. The offering is expected to close on October 6, 2009.

Announcement (September 30, 2009):

Ascent Solar is planning for an underwritten public offering of 4 million shares of its common stock.

Ascent Solar expects to grant the underwriters a 30-day option to purchase 600,000 additional shares of common stock.

Barclays Capital, Inc. is acting as sole book-running manager for the offering. Cowen and Company, LLC and Raymond James & Associates, Inc. are acting as underwriters.

Deal Value (US$ Million) 29.9
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Completed: 2009-10-06

Deal Participants

Target (Company) Ascent Solar Technologies, Inc.

Deal Rationale

Ascent Solar intends to use the net proceeds from the offering for expansion of its rated production capacity and for general corporate purposes.

Offer Price ($ per share) 6.5
No. Shares Issued         4600000

For full details on Ascent Solar Technologies Inc (ASTI) click here. Ascent Solar Technologies Inc (ASTI) has Short Term PowerRatings of 5. Details on Ascent Solar Technologies Inc (ASTI) Short Term PowerRatings is available at This Link.

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