Ascent Solar Technologies Enters Material Agreement

TL;DR

Ascent Solar signed a big deal and sold some stock on Oct 17th. Details to come.

AI Summary

Ascent Solar Technologies, Inc. announced on October 17, 2024, that it entered into a Material Definitive Agreement. The company also reported on unregistered sales of equity securities and filed financial statements and exhibits. The specific details of the agreement and the equity sales were not fully disclosed in this initial filing.

Why It Matters

This filing indicates a significant new development for Ascent Solar Technologies, potentially impacting its financial standing and future operations through a material definitive agreement and equity transactions.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and unregistered sales of equity, which can introduce financial and operational risks if not managed properly.

Key Players & Entities

• Ascent Solar Technologies, Inc. (company) — Registrant
• October 17, 2024 (date) — Earliest event reported
• October 23, 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
• $1.9 Million — into a Material Definitive Agreement. $1.9 Million Convertible Preferred Stock Financing
• $1.9 million — The Company will receive approximately $1.9 million of gross proceeds. Funding is expected
• $1,000 — referred Stock") at a purchase price of $1,000 per share of Series 1C Preferred Stock.
• $2.50 — onversion price ("Conversion Price") of $2.50 per share of common stock. The proceed

Filing Documents

• asti_8k.htm (8-K) — 40KB
• ex3x1.htm (EX-3.1) — 169KB
• ex10x1.htm (EX-10.1) — 130KB
• image_001.jpg (GRAPHIC) — 140KB
• delaware.jpg (GRAPHIC) — 4KB
• 0001079973-24-001438.txt ( ) — 785KB
• asti-20241017.xsd (EX-101.SCH) — 3KB
• asti-20241017_lab.xml (EX-101.LAB) — 33KB
• asti-20241017_pre.xml (EX-101.PRE) — 24KB
• asti_8k_htm.xml (XML) — 3KB

01 . Entry into a Material Definitive Agreement

Item 1.01 . Entry into a Material Definitive Agreement. $1.9 Million Convertible Preferred Stock Financing On October 17, 2024, Ascent Solar Technologies, Inc. (the "Company", "we" and "us") entered into a securities purchase agreement with accredited investors for a convertible preferred stock financing. The Company will receive approximately $1.9 million of gross proceeds. Funding is expected to occur on or before November 1, 2024. Under the securities purchase agreement, the Company will issue approximately 1,900 shares of Series 1C convertible preferred stock ("Series 1C Preferred Stock") at a purchase price of $1,000 per share of Series 1C Preferred Stock. The Series 1C Preferred Stock is convertible into common stock at an initial fixed conversion price ("Conversion Price") of $2.50 per share of common stock. The proceeds of this financing will be used for general corporate purposes. The securities purchase agreement contains customary representations and warranties and agreements and obligations of the parties. Terms of the Series 1C Preferred Stock The Company has filed a Certificate of Designations of Preferences, Rights and Limitations of Series 1C Preferred Stock ("Certificate of Designations") with the Secretary of State of the State of Delaware. Dividends Holders of the Series 1C Preferred Stock will be entitled to dividends on the per share stated value of $1,000 in the amount of 10% per annum, payable quarterly. The dividend rate will increase to 15% if any of the Series 1C Preferred Stock remains outstanding on or after October 17, 2027. Unless the Company elects to pay dividends on the Series 1C Preferred Stock in cash, the Company will cumulate or "capitalize" the dividends, in which case the accrued dividend amount shall be added to the stated value of each share of Series 1C Preferred Stock. Conversion Rights; Anti-Dilution Adjustments The stated value of each share of Series 1C Preferred Stock (including all the unpaid dividends

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 securities described above in this Current Report on Form 8-K were or will be offered and sold in reliance upon exemptions from registration pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended ("Securities Act"), and Rule 506 of Regulation D promulgated thereunder. The offerings were made to "accredited investors" (as defined by Rule 501 under the Securities Act).

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 3.1 Certificate of Designations of Rights and Preferences of Series 1C Convertible Preferred Stock dated October 17, 2024 10.1 Form of Series 1C Convertible Preferred Stock Securities Purchase Agreement dated October 17, 2024 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. October 23, 2024 By: /s/ Jin Jo Name: Jin Jo Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR