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Jun 21st, 2013
 
CIGS manufacturer Ascent Solar raises $6 million from private investor in Asia
 
As reported by Bloomberg, Ascent Solar Technologies Inc. (ASTI), the U.S. thin-film photovoltaic manufacturer thatís shifting its focus to consumer electronics, will receive $6 million from a private investor in Asia.
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  • The company rose 4 percent to 78 cents at the close in New York.

Ascent, based in Thornton, Colorado, will issue Series A preferred stock that may be converted into 7.5 million common shares for 80 cents each, according to a statement. The company also will issue three-year warrants to acquire an additional 2.63 million shares at 90 cents each.

The company rose 4 percent to 78 cents at the close in New York.

Ascent plans to use the funds to expand its line of EnerPlex consumer products, which includes a solar charging case for Apple Inc.’s iPhone.

The first of three funding tranches, worth $1 million, is expected to close this week and the remainder will occur after a registration statement is declared effective by the Securities & Exchange Commission, according to the statement.


 
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