By Devika Patel
Knoxville, Tenn., Oct. 8 - Ascent Solar Technologies, Inc. will complete a $15 million private placement of stock on Oct. 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2,421,801 shares to Norsk Hydro Produksjon AS, a subsidiary of Norsk Hydro ASA.
Norsk Hydro bought the shares using a second option granted in a March 2007 private placement. The option allows it to buy shares and class B warrants to allow it to maintain ownership of up to 35% of each of the securities.
Located in Littleton, Colo., Ascent develops thin-film photovoltaic materials.
| Issuer: | Ascent Solar Technologies, Inc.
|
| Issue: | Stock
|
| Amount: | $15 million
|
| Shares: | 2,421,801
|
| Warrants: | No
|
| Investor: | Norsk Hydro Produksjon AS
|
| Settlement date: | Oct. 8
|
| Stock symbol: | Nasdaq: ASTI
|
| Stock price: | $4.28 at close Oct. 8
|
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