Ascent Solar Technologies (ASTI, Financial) has announced the terms for its public offering, involving 1 million shares of common stock paired with warrants to purchase an additional 1 million shares. Each share, along with a warrant, is priced at a combined offering rate of $2.00. The warrants are set with a $2.00 exercise price and are immediately exercisable, with a five-year expiration period from the initial issue date.
The offering is anticipated to close around June 30, provided all customary closing conditions are met. Before accounting for fees and costs related to the placement agent and offering, the company expects gross proceeds of approximately $2 million. The net proceeds will be allocated towards working capital, product development, and general corporate purposes, including administrative expenses.
H.C. Wainwright & Co. is the designated exclusive placement agent overseeing the transaction.
