North Coast Solar Stocks

October 6, 2009

Ascent Solar Announces Completion of Public Offering of Common Stock and Concurrent Private Placement to Norsk Hydro

Filed under: ASTI — Tags: , , , — Jason @ 4:01 pm

4:01 pm EDT, Tuesday October 6, 2009

THORNTON, Colo.–(BUSINESS WIRE)–Ascent Solar Technologies, Inc. (ASTI) today announced that it has closed its previously announced public offering of approximately 4.6 million shares of common stock, as well as its concurrent private placement of approximately 769,000 shares of common stock to Norsk Hydro Produksjon AS, its largest shareholder, both at a price of $6.50 per share. The private placement was made pursuant to an exemption from registration under the Securities Act of 1933, as amended.

Ascent Solar received net proceeds, after offering expenses and underwriting discounts and commissions, of approximately $32.9 million. Ascent Solar expects to use the net proceeds from the offering for expansion of Ascent Solar’s rated production capacity and for general corporate purposes.

Barclays Capital Inc. was the sole book-running manager of the offering. The offering was made pursuant to a prospectus supplement and accompanying base prospectus.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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