Ascent Solar Technologies, Inc. - ASTI STOCK NEWS

Ascent Solar Technologies (ASTI) has announced a 1-for-100 reverse stock split of its common stock, effective August 15, 2024. This decision, approved by stockholders on August 7, 2024, aims to meet Nasdaq's continued listing standards, particularly the $1.00 minimum bid price requirement. The reverse split will reduce ASTI's outstanding shares from approximately 102 million to 1.02 million. No fractional shares will be issued, and stockholders with less than 100 shares will receive one share. The split will also apply to outstanding warrants, stock options, and restricted stock units, with proportionate adjustments to exercise prices. Existing stockholders will receive instructions from Computershare regarding the exchange of shares.

Ascent Solar Technologies (Nasdaq: ASTI) announced that CEO Paul Warley will attend two major events this summer: ASCEND 2024 in Las Vegas (July 30-August 1) and the H.C. Wainwright 26th Annual Global Investment Conference in New York City (September 9-11).

At ASCEND 2024, focusing on materials science and technology, Warley will meet potential customers and partners in civil, commercial, and national security space sectors. At the H.C. Wainwright conference, Warley will present to investors and meet with senior executives and potential investors.

Warley emphasized the company's progress in advancing CIGS technology and improving corporate structure, stating these events provide opportunities to highlight Ascent's differentiators and connect with potential partners who can benefit from their unique solar capabilities.

Ascent Solar Technologies (Nasdaq: ASTI) announced that it has fully paid off its outstanding balances under a Securities Purchase Contract with an institutional investor, originally disclosed on December 19, 2022.

As of June 21, 2024, the company confirmed that all notes payable and related liabilities have been settled, leaving no further obligations under the contract.

Ascent Solar Technologies specializes in the design and manufacture of lightweight, flexible, and durable CIGS thin-film photovoltaic solutions.

On May 16, 2024, Ascent Solar Technologies (Nasdaq: ASTI) announced a collaboration with the University of Stuttgart's Institute for Building Energetics, Thermotechnology and Energy Storage (IGTE). The partnership focuses on developing prototype solar arrays using Ascent's unique CIGS thin-film photovoltaic technology. Ascent plans to ship its ultralight and flexible solar technology to IGTE this summer to aid in power collection and storage systems development. The initiative aligns with IGTE's mission to advance energy efficiency and sustainability. Ascent Solar's CEO, Paul Warley, highlighted the strategic importance of the collaboration, emphasizing the potential for innovative, sustainable power solutions.

Ascent Solar Technologies (Nasdaq: ASTI) has received a firm order from a leading mega-constellation satellite manufacturer for initial delivery of its thin-film photovoltaic (PV) modules. These will be evaluated for integration into next-generation satellite hardware. Successful deployment in low Earth orbit (LEO) could lead to the manufacturing of Plug and Fly™ arrays starting in Q4 2024. Ascent's technology aims to provide primary power to satellites, reducing weight and complexity. Years of testing, including experiments on the ISS and by JAXA, show Ascent's PV technology outperforms alternatives. This order aligns with Ascent's goal to capitalize on the growing aerospace market opportunity and generate revenue, as stated in their March 2024 corporate update.

Ascent Solar Technologies, Inc. announced the second and third closings of a public offering of common stock and Pre-Funded Warrants at $0.14 per share, raising a total of $5.09 million. The proceeds were used to repurchase and cancel warrants issued with secured notes in December 2022, providing more certainty to the company's capital structure and potential future capital raising efforts.

Momentus Inc. (NASDAQ: MNTS) and Ascent Solar Technologies (Nasdaq: ASTI) have partnered to market innovative solar arrays utilizing the Tape Spring Solar Array (TASSA) technology. The collaboration aims to address the increasing demand for low-cost, reliable, and high-performance solar arrays in the satellite industry. Momentus plans to integrate Ascent's flexible, lightweight photovoltaic modules into the TASSA product, offering customers advantages such as lower costs, resiliency in harsh space environments, flexibility, and efficient power generation. The partnership builds on the success of the pathfinder demonstration of TASSA and aims to enhance power generation capabilities while streamlining mission schedules and spacecraft assembly processes. TASSA is designed to enable Smallsats to generate kilowatts of power in orbit, improve satellite packing efficiencies, and ensure spacecraft operations in challenging conditions. Ascent's CIGS products are tailored for space missions, providing enhanced end-of-life power with minimal mass. The collaboration between Momentus and Ascent signifies a step towards sustainable solutions for space architectures.

Ascent Solar Technologies, Inc. announces the initial closing of a public offering of common stock and pre-funded warrants, raising $3.09 million. The offering includes 12,629,460 shares of common stock and 9,426,570 pre-funded warrants. The net proceeds will be used for various purposes, including retiring outstanding cash payable and canceling warrants with a current exercise price.

Ascent Solar Technologies, Inc. announces a public offering of up to $6 million at $0.14 per share of common stock, with prefunded warrants available. Dawson James Securities, Inc. is the placement agent for the offering, made under a Form S-1 registration statement declared effective by the SEC.