Shares of Ascent Solar Technologies Inc (NASDAQ:ASTI) fell sharply on Monday, dropping 20.4% after the company announced a private placement offering intended to raise approximately $10 million.
The company said it has entered into definitive agreements to sell 1,818,182 shares of common stock or, alternatively, pre-funded warrants, together with accompanying warrants, at a price of $5.50 per share. The issuance is being conducted at-the-market under Nasdaq rules.
The placement package includes two warrant series - labeled series A warrants and short-term series B warrants - which, if all are exercised, could bring in an additional $15 million of proceeds. The firm named H.C. Wainwright & Co. as exclusive placement agent for the transaction.
Per the filing, the offering is expected to close around January 26, 2026, subject to customary closing conditions. Ascent Solar stated it intends to apply the net proceeds for general working capital needs.
The company also noted that the securities being offered have not been registered under the Securities Act of 1933 and therefore cannot be sold in the United States without effective registration or an applicable exemption. As part of the private placement arrangement, Ascent Solar has committed to filing registration statements with the U.S. Securities and Exchange Commission to register the resale of the shares. The company further agreed to certain limits on issuing additional shares for a 30-day period after the registration statement becomes effective, with some limited exceptions.
Ascent Solar Technologies focuses on flexible thin-film solar panels intended for applications where low mass, strong performance, reliability, and resilience are important, including space, military, and defense uses. The company emphasized those application areas in its description of product focus.
Contextual details released by the company tie the financing directly to near-term liquidity and working capital management. The requirement to file registration statements and the short 30-day restriction on additional share issuance are explicit terms disclosed alongside the funding plan. The expected close date and the involvement of an exclusive placement agent are likewise specified in the company's transaction disclosure.
No additional projections, forecasts, or uses of proceeds beyond general working capital were provided in the announcement.