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Ascent Solar Announces Closing of Public Offering of Common Stock

Received net proceeds of approximately $10.1 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 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. Ascent 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.

Ascent intends to use the net proceeds from this offering for working capital and for general corporate purposes.

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