Ascent Solar amends warrant repurchase; pays $3.6M to cancel existing warrants, issues ~7.1M new warrants at $0.14

Ascent Solar Technologies, Inc.

On April 12, 2024, repurchased 50% of outstanding warrants for $1.8M; remaining 50% to be repurchased by April 18 for another $1.8M.
Issued approximately 7.1 million new warrants at $0.14 exercise price to extend the repurchase deadline.
Existing warrants (5.6M shares at $1.765) will be cancelled upon full repurchase, eliminating future full ratchet adjustments.
Investors retain right to exercise existing warrants at $1.765 until repurchase; pro-rata reduction of repurchase price upon exercise.
Agreement aims to bring certainty to capital structure and facilitate future capital raising.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ascent Solar Technologies, Inc. amended Amended and Restated Warrant Repurchase Agreements with each of the Investors valued at $3.6 million aggregate repurchase price (effective 2024-04-12).

Action: amendment
Agreement: equity purchase
Counterparty: each of the Investors
Value: $3.6 million aggregate repurchase price
Effective: 2024-04-12

Exact text from the filing

On April 12, 2024, the Company entered into Amended and Restated Warrant Repurchase Agreements (the “Amendments”) with each of the Investors.

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284 material agreements filed in the last 30 days. Browse all material agreements →

Ascent Solar Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001079973-24-000539

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