Thin-film manufacturer Ascent Solar has received approval to be listed on the Nasdaq Capital Market at the opening market on Wednesday 24 August 2022.
The listing was pending on the Colorado-based manufacturer closing a US$5 million private placement pursuant to a securities purchase agreement.
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The company will return to the Nasdaq listing, more than six years after it was de-listed, when its stock was transferred to the OTC market in February 2016.
Both the capital investment and the Nasdaq listing will position the company to improve its production capabilities in order to meet the increased demand for its products, according to the president and CEO of Ascent Solar, Victor Lee.
After being dormant for most of 2020 due to the impacts of COVID-19 and limited financial resources, the thin-film manufacturer began rebuilding and ramping up operations during the second half of 2020, said Lee.
“Since October 2020, the Ascent team has reconstituted and demonstrated great resiliency in ramping up production. The company is now fully operational and stands ready to build on the strength of what we have achieved in 2021 and the first half of 2022, both financially and operationally,” added Lee.