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22 May 2008


Ascent Solar closes $61m public offering

Ascent Solar Technologies Inc of Littleton, CO, USA, which develops copper indium gallium diselenide (CIGS) thin-film photovoltaic materials and modules, has closed its public offering of 4,370,000 shares of common stock (including 570,000 shares issued after the underwriters exercised their over-allotment in full) at a price of $14 per share. Proceeds are $61.18m (before deducting underwriting discounts and commissions and estimated expenses payable by Ascent Solar).

The net proceeds will be used for the design, purchase, installation, qualification and testing of production tools for about 30MW of rated capacity of thin-film photovoltaic modules, and for general corporate purposes.

See related items:

Ascent offering underwriters exercise over-allotment option

Ascent Solar and Icopal cooperating on building-integrated PVs

Ascent to integrate CIGS PVs into roofing membranes for European market

Hydro raises stake in Ascent to 35%

Ascent’s 1.5MW PV production line enters operation

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