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.
