Ascent Solar Technologies Announces Bridge Financing Of Up To 900 Series 1B Convertible Preferred Shares For $1,000 Per Share For Aggregate Gross Proceeds Of $900,000
Portfolio Pulse from Benzinga Newsdesk
Ascent Solar Technologies (NASDAQ:ASTI) has announced a bridge financing round for the issuance of up to 900 Series 1B Convertible Preferred shares at $1,000 per share, for aggregate gross proceeds of $900,000. The transaction is expected to close in the next few days. This financing is a significant milestone for the company, solidifying its financial position and paving the way for future growth.
June 30, 2023 | 1:07 pm
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Ascent Solar Technologies' bridge financing round could strengthen its financial position and support future growth. The issuance of up to 900 Series 1B Convertible Preferred shares at $1,000 per share could generate aggregate gross proceeds of $900,000.
The bridge financing round announced by Ascent Solar Technologies is a positive development for the company. It could strengthen its financial position by generating up to $900,000 in gross proceeds. This could also support the company's future growth plans, making it a potentially attractive investment opportunity. Therefore, this news could have a positive impact on ASTI's stock price in the short term.
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