Ascent Solar Technologies Files 8-K with Material Agreement

TL;DR

ASTI filed an 8-K detailing a material agreement, equity sales, and corporate changes.

AI Summary

Ascent Solar Technologies, Inc. announced on June 20, 2024, that it entered into a Material Definitive Agreement. The company also reported on unregistered sales of equity securities and amendments to its articles of incorporation or bylaws. Financial statements and exhibits were filed as part of this report.

Why It Matters

This 8-K filing indicates significant corporate actions by Ascent Solar Technologies, including a new material agreement and potential changes to its corporate structure or equity.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Players & Entities

• Ascent Solar Technologies, Inc. (company) — Registrant
• June 20, 2024 (date) — Date of earliest event reported
• June 21, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — h registered Common Stock, par value $0.0001 per share ASTI Nasdaq Capital Marke
• $1,000 — aser for an aggregate purchase price of $1,000. The Purchase Agreement contains custo
• $1,000.00 — red Stock will receive consideration of $1,000.00 in cash. The foregoing description of

Filing Documents

• asti_8k.htm (8-K) — 34KB
• ex3x1.htm (EX-3.1) — 3KB
• ex10x1.htm (EX-10.2) — 43KB
• image_001.jpg (GRAPHIC) — 41KB
• image_002.jpg (GRAPHIC) — 158KB
• image_003.jpg (GRAPHIC) — 164KB
• image_004.jpg (GRAPHIC) — 22KB
• image_005.jpg (GRAPHIC) — 25KB
• 0001079973-24-000950.txt ( ) — 827KB
• asti-20240620.xsd (EX-101.SCH) — 3KB
• asti-20240620_lab.xml (EX-101.LAB) — 33KB
• asti-20240620_pre.xml (EX-101.PRE) — 22KB
• asti_8k_htm.xml (XML) — 4KB

01 Entry into a

Item 1.01 Entry into a Material Definitive Agreement. On June 20, 2024, Ascent Solar Technologies, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with Paul Warley, the Company's Chief Executive Officer (the "Purchaser") pursuant to which it issued and sold one (1) share (the "Share") of the Company's newly designated Series Z Preferred Stock, par value $0.0001 per share (the "Series Z Preferred Stock"), to such Purchaser for an aggregate purchase price of $1,000. The Purchase Agreement contains customary representations and warranties and agreements and obligations of the parties. The foregoing description of the material terms of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

02 Unregistered

Item 3.02 Unregistered Sales of Equity Securities. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. The Share of Series Z Preferred Stock has not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state, and was offered and sold in reliance on the exemption from registration under the Securities Act afforded by Section 4(a)(2) thereof.

03 Amendments to

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On June 20, 2024, the Company filed a Certificate of Designation of the Series Z Preferred Stock (the "Certificate of Designation") with the Secretary of designates one (1) share of authorized preferred stock as Series Z Preferred Stock. The Certificate of Designation provides that the Share of Series Z Preferred Stock will have 180,000,000 votes and will vote together with the outstanding shares of the Company's common stock as a single class exclusively with respect to any proposal to amend the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock. The Share of Series Z Preferred Stock will be voted, without action by the holder, on any such reverse stock split proposal in the same proportion as shares of common stock are voted on such proposal (excluding any common shares that are not voted). The Series Z Preferred Stock otherwise has no voting rights, except as may otherwise be required by the General Corporation Law of the State of Delaware. The Share of Series Z Preferred Stock is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of the Company. The Share of Series Z Preferred Stock has no rights with respect to any distribution of assets of the Company, including upon a liquidation, bankruptcy, reorganization, merger, acquisition, sale, dissolution or winding up of the Company, whether voluntarily or involuntarily. The holder of the Share of Series Z Preferred Stock will not be entitled to receive dividends of any kind. The outstanding share of Series Z Preferred Stock shall be redeemed in whole, but not in part, at any time (i) if such redemption is ordered by the Board of Directors in its sole discretion or (ii) automatically

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 3.1 Certificate of Designation of Series Z Preferred Stock dated June 20, 2024 10.1 Securities Purchase Agreement dated June 20, 2024 between Ascent Solar Technologies, Inc. and Paul Warley 104 Cover Page Interactive Data File - the cover page iXBRL tags are 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. June 21, 2024 By: /s/ Jin Jo Name: Jin Jo Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR