Ascent Solar Files To Offer Common Shares

LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI) announced today that it has filed a registration statement with the Securities and Exchange Commission for the proposed offering by Ascent Solar of shares of its common stock. Proceeds from the offering are expected to be approximately $80 million before deducting underwriting discounts and commissions and estimated offering expenses. Ascent Solar intends to use the net proceeds from the offering for the design, purchase, installation, qualification and testing of production tools for approximately 30 MW of rated capacity for the production of thin-film photovoltaic modules, and for general corporate purposes.

Bear, Stearns & Co. Inc. is serving as sole book-running manager for the offering. Cowen and Company, LLC., Jefferies & Company, Inc. and Merriman Curhan Ford & Co. are serving as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, copies of the preliminary prospectus relating to the offering may be obtained from Bear, Stearns & Co. Inc., Prospectus Department, 383 Madison Avenue, New York, New York 10179, toll free at (866) 803-9204.