Ascent Solar Technologies, Inc. announced a private placement offering of up to $5.5 million on NASDAQ.
The offering includes the sale of common stock, series A warrants, and short-term series B warrants at a purchase price of $1.95 per share.
H.C. Wainwright & Co. is the exclusive placement agent for the offering.
Private Placement Details
Agreement for the purchase and sale of 1,025,643 shares of common stock and accompanying warrants at $1.95 per share.
Gross Proceeds Estimate
Expected gross proceeds of $2 million from the initial offering with potential additional proceeds of $3.5 million from warrants.
Use of Proceeds
Intended to be used for general working capital needs of the Company.
- The private placement under Section 4(a)(2) of the Securities Act of 1933 is structured to potentially raise significant funds for Ascent Solar.
- The offering is expected to strengthen the financial position of the Company, providing resources for future growth and operations.
Ascent Solar's strategic private placement aims to enhance its financial stability and support operational requirements, positioning the Company for sustained growth in the renewable energy sector.