Ascent Solar Technologies, Inc., a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company’s EnerPlex™ series of consumer products, announced the receipt of the second tranche of funds from the Stock Purchase Agreement (SPA) previously announced on July 31, 2014.
Ascent entered into the SPA with an Asian-based investor to sell 12 million shares of restricted common stock with no warrants at a fixed price of $0.33 per share. The first tranche of 4 million shares closed on July 29th, 2014. The second tranche consisting of 8 million shares closed on August 11, 2014, resulting in $2.64 million of additional proceeds to the Company. This common stock will be restricted for resale until 6 months after the closure of the transaction. No placement agent or placement fee was involved in this transaction.
This press release includes a summary of the general terms of the transaction. The complete terms of the financing have been included in a Form 8-K filed by Ascent Solar with the SEC on July 31, 2014.