other material
confidence high
sentiment negative
materiality 0.80
Ascent Solar adjusts conversion/exercise prices on $7.6M notes and warrants; warrant shares increase to 77.9M
Ascent Solar Technologies, Inc.
- Conversion price of Advance Notes lowered from $0.3661 to $0.1268 per share (below $0.20 floor).
- Warrant exercise price also lowered to $0.1268; shares issuable upon exercise increase from 26,980,840 to 77,899,728.
- Series 1B preferred stock conversion price set at $0.14, subject to further adjustment with floor of $0.028.
- Company may pay cash or shares for difference between conversion price and floor price, with reverse split consideration.
- Beneficial ownership blocker limits conversion/exercise to 4.99% (can increase to 9.99% with 61-day notice).