Ascent Solar Technologies Inc of Thornton, CO, USA, which makes lightweight, flexible copper indium gallium diselenide (CIGS) thin-film photovoltaic modules that it integrates into its EnerPlex series of consumer products, has received the second tranche of funds from the stock purchase agreement (SPA) announced on 31 July.
Ascent entered into the SPA with an Asian-based investor to sell 12 million shares of restricted common stock with no warrants at a fixed price of $0.33 per share. The $1.32m first tranche of 4 million shares closed on 29 July. The second tranche of 8 million shares closed on 11 August, yielding $2.64m in additional proceeds.
The common stock will be restricted for resale until 6 months after the closure of the transaction. No placement agent or placement fee was involved.
Ascent Solar had previously planned a $32m securities purchase agreement (announced on 21 July), but that transaction was terminated on 31 July.
