Ascent Solar Technologies, Inc. Announces Pricing of $6,000,000 Public Offering of Shares of Common Stock
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The announcement by Ascent Solar Technologies regarding their public offering is a strategic financial move aimed at capital infusion. The offering price at $0.14 per share suggests a potential dilution of equity for current shareholders, which could impact the stock's performance in the short term. Market sentiment often reacts to such news with varying degrees of volatility and in cases where the offering price is below the current market price, it can signal a bearish outlook to investors.
However, the structure of the offering, which includes prefunded warrants, provides an immediate cash influx with the potential for additional capital in the future. This flexibility might be appealing to certain investors looking for immediate equity stakes with long-term exercise options. It's also noteworthy that the offering is 'best efforts,' meaning the placement agent is not obligated to purchase any unsold shares, which could result in less than the maximum anticipated proceeds.
From a financial perspective, the effectiveness of the registration statement by the SEC is a green light for Ascent Solar to proceed with the offering. Investors should scrutinize the use of proceeds section in the prospectus, as it will provide critical insights into the company's strategic priorities. Whether the funds are allocated to R&D, debt repayment, or operational expansion, the intended use will have long-term implications on the company's financial health and growth trajectory.
Additionally, the market will be watching closely to see if the offering is fully subscribed, which could indicate investor confidence in the company's value proposition. However, if the offering is undersubscribed, it might reflect market apprehension about the company's prospects or valuation, potentially leading to downward pressure on the stock price.
Legally, the offering's compliance with SEC regulations is crucial. Investors must be aware that the prospectus filed with the SEC will contain important legal disclosures, including risk factors and management's discussion and analysis (MD&A). These sections are essential for understanding the legal and operational risks associated with the investment.
Furthermore, the stipulation that the offering will not be valid in jurisdictions where it would be unlawful indicates a careful approach to compliance with state and international securities laws. This precision in legal language is designed to protect the company and investors from potential legal challenges that could arise from the offering.
THORNTON, Colo., April 10, 2024 (GLOBE NEWSWIRE) -- Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (Nasdaq: ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced the launch of a “best efforts” public offering of gross proceeds up to
Dawson James Securities, Inc. is acting as the exclusive placement agent for the offering.
This offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-277070), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on April 9, 2024. The securities may only be offered by means of a prospectus. Copies of the prospectus may be obtained, when available, at the SEC’s website at www.sec.gov or from Dawson James Securities, Inc. Attention: Prospectus Department, 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, investmentbanking@dawsonjames.com or toll free at 866.928.0928.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such 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 financing transaction, our business strategy, and the potential uses of the proceeds from the transaction. 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. 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.
Investor Relations Contact
ir@ascentsolar.com
Media Contact
Spencer Herrmann
FischTank PR
ascent@fischtankpr.com
