News Article
Ascent Solar generates $10 million from public offering
Like many other solar firms, the CIGS solar cell manufacturer has had to create a means of creating cash. The firm intends to use the net proceeds from the offering for working capital and for general corporate purposes
Ascent Solar Technologies has closed its previously announced underwritten public offering of 9,166,700 shares of its common stock at a price of $1.20 per share.
Ascent received net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $10.1 million. The firm has also granted the underwriters a 45-day option to purchase up to an additional 1,375,005 shares of common stock to cover over-allotments, if any.
The company intends to use the net proceeds from this offering for working capital and for general corporate purposes.
Aegis Capital Corp. acted as the sole book-running manager for this offering.
