Ascent Solar Technologies, Inc. Announces Closing of $2.0 Million Public Offering

Rhea-AI Summary

Ascent Solar Technologies (NASDAQ: ASTI), a U.S. manufacturer of CIGS thin-film photovoltaic solutions, has completed its previously announced public offering, raising $2.0 million in gross proceeds.

The offering consisted of 1,000,000 shares of common stock (or pre-funded warrants) and warrants to purchase up to 1,000,000 shares at a combined price of $2.00 per share. The warrants are immediately exercisable at $2.00 per share and will expire in five years. H.C. Wainwright & Co. served as the exclusive placement agent.

The company plans to use the net proceeds for working capital, product development, general and administrative expenses, and other corporate purposes.

Positive

• Successfully raised $2.0 million in gross proceeds through public offering
• Warrants are immediately exercisable, providing potential additional funding
• Proceeds will support product development and working capital needs

Negative

• Offering may result in dilution for existing shareholders
• Additional expenses for placement agent fees will reduce net proceeds

Insights

Capital Markets Analyst

Ascent Solar's $2M public offering provides minimal working capital but signals concerning cash position and high dilution risk for shareholders.

Ascent Solar has closed a $2 million public offering through the issuance of 1 million shares and warrants to purchase an additional 1 million shares. The combined price of $2.00 per share and accompanying warrant raises a critical red flag - the gross proceeds are extremely modest for a public company, especially in the capital-intensive solar technology sector.

The structure of this offering is particularly telling. The warrants have an exercise price equal to the offering price ($2.00) and a 5-year term, creating significant potential dilution for existing shareholders. If all warrants are exercised, the company would issue an additional 1 million shares, effectively doubling the impact of this capital raise.

More concerning is the stated use of proceeds for "working capital" and "general and administrative expenses," suggesting this funding is needed for basic operational sustainability rather than strategic growth initiatives. While "product development activities" is mentioned, the modest size of the raise limits meaningful R&D investment.

This offering strongly indicates Ascent is experiencing cash constraints. The involvement of H.C. Wainwright as placement agent rather than a traditional underwriter further suggests challenging market conditions for the offering. For a NASDAQ-listed company in the renewable energy sector, a $2 million raise represents a minimal capital injection that provides limited runway, potentially necessitating additional dilutive financings in the near term.

THORNTON, Colo., June 30, 2025 (GLOBE NEWSWIRE) -- Ascent Solar Technologies, Inc. (NASDAQ: ASTI) (“Ascent” or the “Company”), the leading U.S. innovator in the design and manufacture of featherweight, flexible, and durable CIGS thin-film photovoltaic (PV) solutions, today announced the closing of its previously announced public offering of an aggregate of 1,000,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,000,000 shares of common stock (the “Warrants”), at a combined public offering price of $2.00 per share (or per pre-funded warrants in lieu thereof) and accompanying Warrant. The Warrants have an exercise price of $2.00 per share, are exercisable immediately upon issuance, and expire on the five-year anniversary of the initial issuance date.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering were $2.0 million before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital, product development activities, general and administrative expenses and other general corporate purposes.

The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-288300), which was declared effective by the Securities and Exchange Commission (the “SEC”) on June 27, 2025. The offering was made only by means of a prospectus forming part of the effective registration statement relating to the offering. Electronic copies of the final prospectus may be obtained on the SEC's website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Ascent Solar Technologies, Inc.

Backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio, Ascent Solar Technologies, Inc. is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. Ascent’s photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, in industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. Ascent Solar’s research and development center and 5-MW nameplate production facility is in Thornton, Colorado. To learn more, visit https://www.ascentsolar.com.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” including statements about the anticipated use of proceeds from the offering. 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, including market and other conditions. We have based these forward-looking statements on our current assumptions, expectations, and projections about future events. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “will,” “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. 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 including those discussed under the heading “Risk Factors” in our most recently filed reports on Forms 10-K and 10-Q.

Media Contact

Spencer Herrmann

FischTank PR

ascent@fischtankpr.com

FAQ

How much did Ascent Solar Technologies (ASTI) raise in its June 2025 public offering?

Ascent Solar Technologies raised $2.0 million in gross proceeds through a public offering of common stock and warrants at $2.00 per share.

What are the terms of ASTI's June 2025 warrants offering?

The warrants allow purchase of up to 1,000,000 shares at $2.00 per share, are exercisable immediately, and expire five years from issuance.

How will Ascent Solar (ASTI) use the proceeds from its 2025 offering?

ASTI will use the net proceeds for working capital, product development activities, general and administrative expenses, and other corporate purposes.

Who was the placement agent for Ascent Solar's June 2025 offering?

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

What type of solar technology does Ascent Solar (ASTI) manufacture?

Ascent Solar specializes in featherweight, flexible, and durable CIGS thin-film photovoltaic (PV) solutions.