ASTI - Ascent Solar surges after winning $9M equity financing

2023-04-20 09:19:26 ET

Ascent Solar Technologies ( NASDAQ: ASTI ) +31.3% pre-market Thursday after saying it secured a $9M equity financing agreement with Singapore-based Lucro Investments, which agreed to purchase nearly 7.5M Ascent Solar common shares at $1.20/share.

The company said the equity investment comes at a pivotal time, as it executes a turnaround plan and takes steps to establish itself in the global PV solutions marketplace.

Earlier this week, Ascent Solar ( ASTI ) completed the acquisition of manufacturing equipment from Flisom AG and said it plans to begin manufacturing thin-film solar material in Switzerland .

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