Ascent Solar Technologies, Inc. Announces Adjournment of Annual Meeting, Information for Reconvened Annual Meeting

Rhea-AI Summary

Ascent Solar Technologies, Inc. (ASTI) has adjourned its 2023 Annual Meeting of Stockholders to solicit additional votes with respect to the proposals described in the Company’s definitive proxy statement. The meeting will be reconvened on December 14, 2023, at 10:00 a.m. Mountain Time. Stockholders as of October 16, 2023, are encouraged to vote as soon as possible via the Internet or by phone. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 42.3% of the shares of the Company’s common stock issued and outstanding as of the record date. Each of the proposals described in the Annual Meeting proxy statement had received a favorable vote from the shares that had been voted.

THORNTON, Colo., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (Nasdaq: ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced that its 2023 Annual Meeting of Stockholders (the “Annual Meeting”) scheduled for December 5, 2023 has been adjourned for the purpose of soliciting additional votes with respect to the proposals described in the Company’s definitive proxy statement for the Annual Meeting, filed with the Securities and Exchange Commission (the “SEC”) on October 23, 2023.

The required quorum for the transaction of business at the Annual Meeting is a majority of the voting power of shares of common stock issued and outstanding on the record date. The meeting was attended by less than the required voting power represented in person or by proxy. The Annual Meeting will be reconvened on Thursday, December 14, 2023, at 10:00 a.m. Mountain Time, and will continue to be held at the Company’s corporate office at 12300 Grant Street, Thornton, CO 80241.

The record date for determination of stockholders entitled to vote at the reconvened Annual Meeting remains October 16, 2023. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 42.3% of the shares of the Company’s common stock issued and outstanding as of the record date. At the time the Annual Meeting was adjourned, each of the proposals described in the Annual Meeting proxy statement had received a favorable vote from the shares that had been voted.

Stockholders as of October 16, 2023, the record date for the Annual Meeting, are encouraged to vote as soon as possible via the Internet at www.proxyvote.com or by phone at 1-800-690-6903. They must have their proxy card available.

Important Information

This material may be deemed to be solicitation material in respect of the Annual Meeting to be reconvened and held on December 14, 2023. In connection with the Annual Meeting, the Company filed a definitive proxy statement with the SEC on October 23, 2023. BEFORE MAKING ANY VOTING DECISIONS, STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING. The proxy materials have been made available to shareholders who are entitled to vote at the Annual Meeting. The Company’s proxy statement and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at sec.gov or the Company’s website https://investor.ascentsolar.com/financials/sec-filings.

About Ascent Solar Technologies, Inc.

Backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio, Ascent Solar Technologies, Inc. is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. Ascent’s photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, in industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. Ascent Solar’s research and development center and 4.5-MW nameplate production facility is in Thornton, Colorado. To learn more, visit https://www.ascentsolar.com or follow the Company on LinkedIn and X (formerly Twitter).

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" including statements about the Annual Meeting. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. We have based these forward-looking statements on our current assumptions, expectations, and projections about future events. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “will,” "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's filings with the Securities and Exchange Commission including those discussed under the heading “Risk Factors” in our most recently filed reports on Forms 10-K and 10-Q.

Investor Relations Contact
ir@ascentsolar.com

Media Contact
Spencer Herrmann
FischTank PR
ascent@fischtankpr.com

FAQ

When was the 2023 Annual Meeting of Stockholders adjourned by Ascent Solar Technologies, Inc. (ASTI)?

The 2023 Annual Meeting of Stockholders was adjourned by Ascent Solar Technologies, Inc. (ASTI) for the purpose of soliciting additional votes with respect to the proposals described in the Company’s definitive proxy statement.

When will the reconvened Annual Meeting be held?

The reconvened Annual Meeting will be held on December 14, 2023, at 10:00 a.m. Mountain Time at the Company’s corporate office.

How can stockholders vote for the reconvened Annual Meeting?

Stockholders as of October 16, 2023, are encouraged to vote as soon as possible via the Internet at www.proxyvote.com or by phone at 1-800-690-6903.

What percentage of shares had proxies submitted at the time the Annual Meeting was adjourned?

At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 42.3% of the shares of the Company’s common stock issued and outstanding as of the record date.

What is the record date for determination of stockholders entitled to vote at the reconvened Annual Meeting?

The record date for determination of stockholders entitled to vote at the reconvened Annual Meeting remains October 16, 2023.