Market Overview

Ascent Solar Closes Initial $5M Tranche of $10M Registered Direct Financing with Ironridge Technology

Ascent Solar Technologies (NASDAQ: ASTI),
announced today the closing of initial $5 million
tranche as part of an agreement to raise $10 million through a
registered direct offering with institutional investor Ironridge
Technology Co., a division of Ironridge Global IV LTD. In the
transaction, the Company will issue up to $10 million of Series B
convertible preferred stock in two tranches.

The second tranche of $5 million is expected to close in late 2013 or
the early part of 2014. The second tranche preferred stock will be
convertible into shares of common stock at a fixed conversion

See full press release

Posted-In: News Financing Offerings Contracts Management Global

 

Most Popular

Related Articles (ASTI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free