Current Report Filing (8-k)
April 20 2023 - 09:01AM
Edgar (US Regulatory)
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2023-04-14
2023-04-14
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): April 20, 2023 (April 14, 2023)
ASCENT SOLAR
TECHNOLOGIES, INC.
(Exact name of registrant
as specified in its charter)
| Delaware |
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001-32919 |
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20-3672603 |
| (State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
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12300 Grant Street |
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Thornton, CO 80241 |
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(Address of principal executive offices) |
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(720) 872-5000 |
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(Registrant’s telephone number, including area code) |
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Not Applicable
(Former name, former address,
and former fiscal year, if changed since last report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
| Common |
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ASTI |
|
Nasdaq Capital
Market |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
3.02 Unregistered Sales of Equity Securities.
Private
Placement Offering of Common Stock
On
April 14, 2023, Ascent Solar Technologies, Inc., a Delaware corporation (the “Company”) entered a securities purchase
agreement (“SPA”) with Lucro Investments VCC-ESG Opportunities Fund (“Lucro” or “Investor”) for
an approximate $9 million private placement (the “Private Placement”) of an aggregate of 7,499,997 shares (the
“Shares”) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”). The per
share purchase price is $1.20 per share.
The
Private Placement will close in nine tranches of approximately $1 million. The first tranche is scheduled to close in early May 2023.
The ninth and final tranche is scheduled to close in late December 2023.
Each
tranche closing of the Private Placement is subject to customary closing conditions as set forth in the SPA.
The
proceeds of the Private Placement will be used for the Company’s general corporate purposes.
The
foregoing description of the SPA is a summary and is qualified in its entirety by reference to the document attached hereto as Exhibits
10.1, which documents are incorporated herein by reference.
All
of the securities described in this Current Report on Form 8-K were or will be offered and sold in reliance upon exemptions from registration
pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (“Securities Act”), and Rule 506 of Regulation D
promulgated thereunder. The offering was made to “accredited investors” (as defined by Rule 501 under the Securities Act).
Item
7.01 Regulation FD Disclosure.
On
April 20, 2023, the Company issued a press release announcing the Private Placement. A copy of the press release is furnished herewith
as Exhibit 99.1 and is incorporated herein by reference.
The
information set forth under this Item 7.01, including Exhibit 99.1, of this Current Report on Form 8-K shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities
of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933
or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ASCENT SOLAR TECHNOLOGIES, INC. |
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| April 20, 2023 |
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By: |
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/s/ Paul Warley |
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Name: Paul Warley |
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Title: Chief Financial Officer |
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