Ascent Solar Technologies, a provider of thin-film photovoltaic modules, has received the second tranche of funds from the Stock Purchase Agreement (SPA) signed with an Asian investor.
This is the second tranche of funds received from the investor.
In July Ascent first entered into the SPA with the Asian investor to sell 12 million shares of restricted common stock with no warrants at a fixed price of $0.33 per share.
The first tranche of 4 million shares closed on July 29th, 2014. The second tranche consisting of 8 million shares closed on August 11, 2014, resulting in $2.64 million of additional proceeds to the Company, the company said.
Ascent Solar 2Q’14 revenues rises 45% over previous quarter
Ascent Solar Technologies expects to post revenues of approximately $1.1 million, an increase of 45 percent over the first quarter of 2014, and a 4-fold increase from the second quarter of 2013.
For the full year 2014, the company had given revenue guidance of about $5 – $6 million.