ASTI - Ascent Solar announces bridge financing up to 900 convertible preferred shares

2023-06-30 11:11:05 ET

• Ascent Solar Technologies ( NASDAQ: ASTI ) has signed a definitive agreement for a bridge financing round for the issuance of up to 900 Series 1B Convertible Preferred.
• The closing of the transaction is expected to occur in the next several days.
• Each share of Preferred stock shall have a stated value equal to $1K for aggregate gross proceeds of $0.9M before closing costs and adjustments.
• The funds raised through this financing will be utilized to support the Company's working capital needs as it expands its manufacturing capabilities and accelerates market penetration.
• "We are pleased to have secured this bridge financing round, which further validates the commitment and support we receive from our lending partners. This investment underscores the bright future ahead for ASTI." said Paul Warley, CEO.

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