ASTI - Ascent Solar to propose reverse stock split

Ascent Solar Technologies (OTCPK:ASTI) says it will seek a reverse stock split, as part of a broader plan to eventually gain a listing on the Nasdaq Capital Market. The company's board has approved a reverse split at a ratio of between 1-for-1,000 and 1-for-10,000, with the final ratio to be determined by the board in its sole discretion. "The reverse split is a necessary step as we continue to rebuild the company, [and] will better align Ascent's capital structure with that of other similar companies of our size, ambitions and scope," President and CEO Victor Lee says. Seeking Alpha contributor Shock Exchange has said "at its current cash burn rate, ASTI could run out of liquidity by year end."

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Ascent Solar to propose reverse stock split