Ascent Solar defers $1.33M in debt prepayments by 90 days

Ascent Solar Technologies, Inc.

Company agreed to defer two $666,666.66 prepayments due May 18 and June 19, 2023.
Deferred payments now due August 16 and September 17, 2023, respectively.
Prepayments under $15M Senior Secured 10% Discount Convertible Advance Notes.
Non-compliance would trigger an Event of Default under the notes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Ascent Solar Technologies, Inc. amended Waiver and Amendment Agreement with two institutional investors valued at $15,000,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible (effective 2023-03-29).

Action: amendment
Agreement: credit facility
Counterparty: two institutional investors
Value: $15,000,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible
Effective: 2023-03-29

Exact text from the filing

on March 29, 2023, the Company entered into a Waiver and Amendment Agreement (the “Amendment”) relating to a Securities Purchase Contract, dated as of December 19, 2022 (the “Securities Purchase Contract”), entered into by the Company and two institutional investors (each, an “Investor” and collectively, the “Investors”) for the issuance to the Investors of $15,000,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible Advance Notes (the “Advance Notes”).

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Ascent Solar Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001079973-23-000778

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