By Sheri Kasprzak
New York, March 13 - Ascent Solar Technologies, Inc. sealed a $9.236 million private placement.
The company issued 1.6 million shares at $5.7725 each to Norsk Hydro Produksjon AS, a subsidiary of Norsk Hydro ASA.
The price per share is a 25% premium to the average of the company's closing bid prices for the five consecutive trading days ended March 12.
The investor received class A and class B warrants for up to 12% of the shares issued in the offering, subject to shareholder approval. The terms of the warrants were unavailable Tuesday.
Located in Littleton, Colo., Ascent develops thin-film photovoltaic materials.
| Issuer: | Ascent Solar Technologies, Inc.
|
| Issue: | Stock
|
| Amount: | $9.236 million
|
| Shares: | 1.6 million
|
| Price: | $5.7725
|
| Warrants: | Class A and B for up to 12% of the shares issued in the deal, subject to shareholder approval
|
| Investor: | Norsk Hydro Produksjon AS
|
| Settlement date: | March 13
|
| Stock symbol: | NYSE: NHY
|
| Stock price: | $4.6499 at close March 13
|
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