Ascent Solar Technologies, Inc. (ASTI): debt financing — Ascent Solar amends note prepayment schedule; agrees to $2M cash payments in 2023

Ascent Solar Technologies, Inc.

Total prepayment of $2,000,000 across four dates from April 3 to June 19, 2023.
Each of two institutional investors (L1 Capital and Sabby Volatility) receives $1,000,000.
Prepayments at 100% of principal plus accrued interest; failure triggers default.
Amendment aligns prepayment schedules for both investors under the $15M advance notes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ascent Solar Technologies, Inc. amended convertible notes with two institutional investors at at a price equal to 100% of the principal amount of the Advance Notes to be prep.

Instrument: convertible notes
Counterparty: two institutional investors
Rate: at a price equal to 100% of the principal amount of the Advance Notes to be prep
Event: amendment

Exact text from the filing

On April 12, 2023, the Company and each of the Investors entered in a further amendment to the Amendment (the “Revised Amendment”), to provide for a consistent prepayment schedule for the Advance Notes held by each of the Investors.

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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 $2,000,000 aggregate prepayment schedule for Senior Secured Original Issue 10% Discount Convertible (effective 2023-04-12).

Action: amendment
Agreement: notes offering
Counterparty: two institutional investors
Value: $2,000,000 aggregate prepayment schedule for Senior Secured Original Issue 10% Discount Convertible
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, the Company and each of the Investors entered in a further amendment to the Amendment (the “Revised Amendment”), to provide for a consistent prepayment schedule for the Advance Notes held by each of the Investors.

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Ascent Solar Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-029229

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