Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CEST(SeeNews) - Nov 4, 2013 - US firm Ascent Solar Technologies Inc (NASDAQ:ASTI) said today it had completed the first tranche issue of USD 5 million (EUR 3.7m) in series B convertible preferred stock to Ironridge Technology Co.
Last week, the company, which makes flexible thin-film photovoltaic (PV) modules for its EnerPlex consumer products, said it had agreed to sell USD 10 billion in preferred stock to the institutional investor, which is part of Ironridge Global IV ltd. Ascent will use the proceeds to back the operations and growth of its retail channels for the EnerPlex devices in the US, Europe and Asia. It will also invest part of the raised amount into brand building and the market roll-out of more EnerPlex products.
The shares in the first-tranche placement will be convertible into common shares at a price of USD 1.15 apiece. The second USD-5-million tranche is to wrap up later this year or at the beginning of 2014, with the conversion price here being either USD 1.15 or USD 1.5 per common share.
Ascent reported a preliminary revenue of USD 275,000 for the third quarter of 2013, up 22% sequentially. It said that sales of its EnerPlex solar-integrated chargers had jumped more than twofold in July-September.
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST