Ascent Solar Technologies 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
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