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Ascent Solar Announces Completion of Public Offering of Common Stock and Concurrent Private Placement

Received net proceeds of approximately $32.9 million

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Ascent Solar Technologies, Inc. announced that it has closed its previously announced public offering of approximately 4.6 million shares of common stock, as well as its concurrent private placement of approximately 769,000 shares of common stock to Norsk Hydro Produksjon AS, its largest shareholder, both at a price of $6.50 per share. The private placement was made pursuant to an exemption from registration under the Securities Act of 1933, as amended.

Ascent Solar received net proceeds, after offering expenses and underwriting discounts and commissions, of approximately $32.9 million. Ascent Solar expects to use the net proceeds from the offering for expansion of Ascent Solar’s rated production capacity and for general corporate purposes.

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