Ascent Solar raises $15M in convertible notes with warrants, potential $35M additional

Ascent Solar Technologies, Inc.

Issued $12.5M registered and $2.5M private placement Senior Secured 10% OID Convertible Advance Notes for net proceeds of $13.5M; interest 4.5% p.a., 18-month maturity.
Investors received warrants to purchase 2,513,406 shares at $3.93 per share, five-year term; conversion price formula includes a floor of $0.29.
Company may request up to $35M additional Advance Notes from one investor after 210 days, subject to equity conditions and $75M market cap threshold.
Proceeds used for working capital, growth, and strategic investments; cash covenant requires minimum $3M balance.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

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. entered into Purchase Contract with two institutional investors valued at $12,500,000 (effective 2022-12-19).

Action: entry
Agreement: equity purchase
Counterparty: two institutional investors
Value: $12,500,000
Effective: 2022-12-19

Exact text from the filing

On December 19, 2022, Ascent Solar Technologies, Inc. (the “Company”) entered into a Securities Purchase Contract (the “Purchase Contract”) with two institutional investors (each, an “Investor” and collectively, the “Investors”) for the issuance of $12,500,000 in aggregate principal amount of Senior Secured Original Issue 10% Discount Convertible Advance Notes, for a purchase price of $11,250,000 in cash, net of an original issuance discount of $1,250,000 (the “Registered Advance Notes”), and which will bear interest at a rate of 4.5% per annum, payable, at the option of the Company, in kind or in cash, subject to certain conditions, and which is convertible, at the option of the holders from time to time, into shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) in the amounts and on the terms set forth in the Registered Advance Notes, or repayable in cash at maturity 18 months after the issuance thereof, pursuant to a direct registered offering (the

View on SEC.gov

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

Ascent Solar Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-081155

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.