(Update) Having started production of its monolithically integrated flexible thin-film CIGS modules in May, Ascent Solar is attempting to gain further funding via a common stock offering to ramp its FAB2 production plant in Colorado to a capacity of 30MW. The company will offer 5.25 million shares at $4.15 per share to the public.
Ascent has granted the underwriters a 30-day option to purchase up to 787,500 additional shares of common stock from the company. The net proceeds from the offering are expected to be approximately $20.25 million, after deducting the underwriting discount and estimated offering expenses payable by Ascent. The offering is expected to settle and close on Nov. 16 subject to customary closing conditions.
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Cowen and Company is acting as the sole lead underwriter, and Rodman & Renshaw and ThinkEquity LLC are acting as comanagers in this offering.
