Ascent Solar announces $2 million public offering of common stock

THORNTON, Colo. - Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a micro-cap company with a market value of $5.15 million, has priced a public offering of 1,000,000 shares of common stock (or pre-funded warrants) and warrants to purchase up to 1,000,000 additional shares at a combined price of $2.00 per share and accompanying warrant. InvestingPro data shows the company faces significant financial challenges, with an 84.71% revenue decline in the last twelve months.

The warrants will have an exercise price of $2.00 per share, will be exercisable immediately upon issuance, and will expire five years after issuance. The offering is expected to close around June 30, 2025, subject to customary closing conditions.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to generate $2.0 million in gross proceeds before deducting placement agent fees and other expenses.

According to the company’s press release statement, Ascent Solar intends to use the net proceeds for working capital, product development activities, general and administrative expenses, and other corporate purposes.

The securities are being offered pursuant to a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on June 27, 2025.

Ascent Solar Technologies designs and manufactures flexible CIGS thin-film photovoltaic solutions. The company operates a 5-MW nameplate production facility in Thornton, Colorado.

In other recent news, Ascent Solar Technologies has entered into a Teaming Agreement with a US-based defense provider to supply thin-film solar technology for space missions. The agreement highlights Ascent’s capability to deliver solar arrays within six to eight weeks, which is faster than the industry standard. Additionally, Ascent Solar has announced a collaboration with NASA to develop beamed power technology using its CIGS photovoltaic modules. This partnership aims to advance technology that can reduce spacecraft mass and volume, potentially benefiting NASA’s lunar missions. Furthermore, Ascent Solar has inked a Master Services Agreement with NOVI Space Inc. to provide rollable PV array blankets for AI-powered satellites. This collaboration is expected to enhance Earth Observation capabilities with a satellite constellation launch planned for early 2026. Ascent Solar has also completed the delivery of spaceflight-ready PV blankets to a European space systems provider, meeting strict specifications for space applications. The company’s ability to rapidly customize its technology was crucial in fulfilling the partner’s requirements.

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