By Chris Wack
Ascent Solar Technologies shares were down 62% at $2.08 after the company launched a “best efforts” public offering of 3.6 million units at $2.88 a unit.
The stock closed Wednesday’s session 14% lower, and is down 99% in the past 12 months.
Each unit is comprised of one share of common stock and one warrant to buy a share of stock.
The prefunded warrants are immediately exercisable, and only expire when such prefunded warrants are fully exercised. The warrants are immediately exercisable at a price of $2.88 a share and will expire five years from the date of issuance.
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