Ascent Solar Technologies Enters Material Definitive Agreement
Ticker: ASTI · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1350102
| Field | Detail |
|---|---|
| Company | Ascent Solar Technologies, INC. (ASTI) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.765, $5 million, $3.6 million, $1.8 million, $0.14 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
Related Tickers: ASTI
TL;DR
ASTI signed a big deal, details TBD.
AI Summary
Ascent Solar Technologies, Inc. announced on April 12, 2024, that it entered into a material definitive agreement. The filing does not provide specific details about the agreement, the counterparty, or any associated financial figures.
Why It Matters
This filing indicates a significant business development for Ascent Solar Technologies, potentially impacting its future operations and financial standing.
Risk Assessment
Risk Level: medium — The lack of specific details in the 8-K filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Ascent Solar Technologies, Inc. (company) — Registrant
- April 12, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement?
The filing does not specify the nature of the material definitive agreement.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the name of the counterparty.
Are there any financial terms or dollar amounts associated with this agreement?
The filing does not provide any financial terms or dollar amounts related to the agreement.
When was the agreement officially entered into?
The agreement was entered into on April 12, 2024, which is also the date of the earliest event reported.
What is the purpose of this 8-K filing?
This 8-K filing is to report the entry into a material definitive agreement and to provide financial statements and exhibits.
Filing Stats: 1,038 words · 4 min read · ~3 pages · Grade level 11.5 · Accepted 2024-04-12 16:15:13
Key Financial Figures
- $1.765 — nts exercisable at an exercise price of $1.765. As previously disclosed, on March 6,
- $5 million — action with gross proceeds in excess of $5 million ("Qualified Financing"), the Company wi
- $3.6 million — tors for an aggregate purchase price of $3.6 million. Following the delivery of the purchase
- $1.8 million — pany for an aggregate purchase price of $1.8 million. Second Repurchase. On or before Apri
- $0.14 — illion warrants at an exercise price of $0.14 per warrant. These warrants will be exe
Filing Documents
- asti_8k.htm (8-K) — 33KB
- 0001079973-24-000539.txt ( ) — 201KB
- asti-20240412.xsd (EX-101.SCH) — 3KB
- asti-20240412_lab.xml (EX-101.LAB) — 33KB
- asti-20240412_pre.xml (EX-101.PRE) — 22KB
- asti_8k_htm.xml (XML) — 3KB
01. Entry Into
Item 1.01. Entry Into a Material Definitive Agreement. Background: As previously disclosed, on December 19, 2022, Ascent Solar Technologies, Inc. (the "Company") entered into a Securities Purchase Contract (the "Purchase Contract") with two institutional investors (the "Investors"). Pursuant to the Purchase Contract, the Company issued to the Investors certain common stock warrants (the "Warrants"). The Warrants have certain "full ratchet" anti-dilution adjustments that are triggered when the Company issues securities with a purchase or conversion, exercise or exchange price that is less than the exercise price of the Warrants then in effect at any time. Under the full ratchet anti-dilution adjustments, if the Company issues new securities at a price lower than the then applicable exercise price, (i) the exercise price is reduced to the lower new issue price and (ii) the number of warrant shares is proportionately increased. The Warrants have been previously adjusted following past issuances of Company securities. Currently there are 5,596,232 Warrants exercisable at an exercise price of $1.765. As previously disclosed, on March 6, 2024 and March 7, 2024, the Company entered into Warrant Repurchase Agreements (the "Repurchase Agreements"), with each of the Investors. Pursuant to the Repurchase Agreements, if the Company closes a new capital raising transaction with gross proceeds in excess of $5 million ("Qualified Financing"), the Company will repurchase the Warrants from the Investors for an aggregate purchase price of $3.6 million. Following the delivery of the purchase price to the Investors, the Investors will relinquish all rights, title and interest in the Warrants and assign the same to the Company, and the Warrants will be cancelled. Amendments to Warrant Repurchase Agreements: On April 12, 2024, the Company entered into Amended and Restated Warrant Repurchase Agreements (the "Amendments") with each of the Investors. Pursuant to the Amendments, on
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASCENT SOLAR TECHNOLOGIES, INC. April 12, 2024 By: /s/ Jin Jo Name: Jin Jo Title: Chief Financial Officer