Ascent solar technologies announces bridge financing of up to 900 series 1b convertible preferred shares

Thornton, colo., june 30, 2023 (globe newswire) -- ascent solar technologies (nasdaq: asti) (“asti” or the “company”), the leading u.s. innovator in the design and manufacture of featherweight, flexible cigs thin-film photovoltaic (pv) solutions, announced the signing of a definitive agreement on june 29, 2023 for a bridge financing round for the issuance of up to 900 series 1b convertible preferred. the closing of the transaction is expected to occur in the next several days. each share of preferred stock shall have a stated value equal to $1,000 for aggregate gross proceeds of $900,000 before closing costs and adjustments. this financing marks a significant milestone for the company as it solidifies its financial position and paves the way for future growth.
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