Ascent Solar enters $5M subordinated note private placement with BD1 and adjusts existing convertible notes and warrants

Ascent Solar Technologies, Inc.

Ascent Solar (ASTI) entered a $5M private placement of subordinated notes with BD1 Investment Holding, closing in four tranches starting mid-May 2023.
The notes bear 6% annual interest, mature September 30, 2026, are unsecured and subordinated to senior debt.
Due to a prior $9M equity offering with Lucro, the conversion price of $10.1M outstanding Advance Notes was lowered to $0.3661 per share.
Warrant exercise price was reduced to $0.3661 per share, and the number of warrant shares increased from 2,513,406 to 27,610,921 shares.
Press release highlights 300% manufacturing capacity increase in Switzerland, new Perovskites Center of Excellence, and global expansion plans.

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