Ascent Solar achieves 12M Common Stock Issuance at $3.96M

Ascent Solar has announced the receipt of the second share of funds from the Stock Purchase Agreement (SPA).

The release of this second portion was declared on July 31, 2014.

Ascent Solar is the developer and manufacturer of flexible thin-film photovoltaic modules, which is incorporated into the EnerPlex series of products from company.

Ascent had arrived at the SPA with an Asian-based investor to sell 12 million shares of their controlled common stock with no warrants at a price of $0.33 per share.

The first tranche of 4 million shares were closed on July 29th, 2014.

The second tranche comprising of 8 million shares closed on August 11, 2014, which resulted in $2.64 million of surplus earnings to the Company.

This common stock will be limited for resale until 6 months once the transaction closes, with no placement agent or fee involved.

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