- News
26 September 2012
Ascent Solar closes public offering of shares, raising $10.1m
Ascent Solar Technologies Inc of Thornton, CO, USA, which manufactures lightweight thin-film photovoltaic modules based on copper indium gallium diselenide (CIGS) using flexible substrate materials, says that the underwritten public offering of 9,166,700 shares of its common stock (announced on 19 September) has been closed at a price of $1.20 per share.
After deducting the underwriting discount and estimated offering expenses, Ascent received net proceeds of about $10.1m. The firm has also granted the underwriters a 45-day option to purchase up to an additional 1,375,005 shares to cover over-allotments, if any. Aegis Capital Corp acted as the sole book-running manager for the offering.
Ascent intends to use the net proceeds from the offering for working capital and for general corporate purposes.
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