Ascent Solar Announces Completion of Public Offering of Common Stock and Concurrent Private Placement to Norsk Hydro
October 06 2009 - 4:01PM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ: ASTI) today announced
that it has closed its previously announced public offering of
approximately 4.6 million shares of common stock, as well as its
concurrent private placement of approximately 769,000 shares of
common stock to Norsk Hydro Produksjon AS, its largest shareholder,
both at a price of $6.50 per share. The private placement was made
pursuant to an exemption from registration under the Securities Act
of 1933, as amended.
Ascent Solar received net proceeds, after offering expenses and
underwriting discounts and commissions, of approximately $32.9
million. Ascent Solar expects to use the net proceeds from the
offering for expansion of Ascent Solar's rated production capacity
and for general corporate purposes.
Barclays Capital Inc. was the sole book-running manager of the
offering. The offering was made pursuant to a prospectus supplement
and accompanying base prospectus.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, and there shall not be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc. is a developer of thin-film
photovoltaic modules with substrate materials that can be more
flexible and affordable than most traditional solar panels. Ascent
Solar modules can be directly integrated into military and space
applications, building integrated applications, and consumer
electronics for portable power or configured as stand alone modules
for large scale terrestrial deployment. Ascent Solar is located in
Thornton, Colorado. For more information about Ascent Solar, please
visit www.ascentsolar.com.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the
Company's actual operating results to be materially different from
any historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"believes," "belief," "expects," "expect," "intends," "intend,"
"anticipate," "anticipates," "plans," "plan," to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's filings with the
Securities and Exchange Commission.
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