Ascent wraps $7.99 million stock placement with $3.99 million tranche

TFG Radiant invests $5.99 million, Seng Wei Seow invests $2 million

By Toni Weeks

San Luis Obispo, Calif., Nov. 11 – Ascent Solar Technologies, Inc. said it raised $3.99 million in the second and final tranche of a $7.99 million private placement of shares.

The company sold a total of 3,115,618 shares. It sold 1,690,618 shares at $2.366 apiece to two investors for proceeds of $4 million in the first tranche, which settled on Sept. 2, and 1,425,000 shares at $2.80 each for proceeds of $3.99 million in the second tranche.

TFG Radiant Investment Group and Seng Wei Seow each purchased 845,309 shares in the first tranche, and TFG was the sole investor for the second tranche.

The stock prices represent 30% and 53.85% premiums, respectively, to the closing share price of $1.82 on Aug. 28.

The company said it held a special shareholder meeting on Oct. 22 to approve the second tranche.

Ascent is a Littleton, Colo.-based company that develops thin-film photovoltaic materials.

Issuer:	Ascent Solar Technologies, Inc.
Issue:	Common shares
Amount:	$7,990,002
Shares:	3,115,618
Price:	$2.366 for 1,690,618 shares, $2.80 for 1,425,000 shares
Warrants:	No
Investors:	Seng Wei Seow (for $2,000,001), TFG Radiant Investment Group (for $5,990,001)
Pricing dates:	Aug. 29, Nov. 11
Settlement date:	Sept. 2 for ($4,000,002)
Stock symbol:	Nasdaq: ASTI
Stock price:	$1.82 at close Aug. 28
Market capitalization:	$27.17 million

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