The Series F Preferred Stock will be issued to the investor through a registered direct offering.
A shelf registration statement (File No. 333-199214) relating to the Series F Preferred Stock being offered has been filed with and declared effective by the SEC.
A prospectus supplement relating to the offering of the Series F Preferred Stock will be filed by the Company with the SEC. Copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC's website at http://www.sec.gov or from Ascent Solar Technologies, Inc., 12300 Grant Street, Thornton CO 80241, Attention: Investor Relations.
The complete terms of the financing have been included in a Form 8-K filed by Ascent Solar with the SEC on January 20, 2016.
This press release does not and shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration under the securities laws of any state or jurisdiction. Any offering of the Series F preferred stock will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
The $7 million in new funding is a supplement to the Committed Equity Line ("CEL") financing with Redwood that was secured in November 2015. The Series F Preferred Stock financing will allow the Company to postpone any further drawdowns under the CEL until some later time in 2016.
"We are pleased to have secured this additional funding. This agreement will allow the Company to more easily manage the drawdown of the CEL and further share issuance associated with the funding options," commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc.
