Ascent Solar Raising $35 Million for Retail Expansion

Nov. 17 (Bloomberg) — Ascent Solar Technologies Inc., a
maker of solar-powered phone chargers and backpacks, is raising
$35 million by selling convertible debt to an institutional

Ascent will issue $32 million in senior secured convertible
notes and $3 million in convertible preferred stock, as well as
warrants to purchase shares of its common stock, Thornton,
Colorado-based Ascent said today in a statement that didn’t
identify the buyer.

The company will use the proceeds to fund its operations
and to expand retail channels for its products, which include
solar-powered charging cases for Apple Inc.’s iPhone and Samsung
Electronics Co.
’s Galaxy smartphone.

Ascent expects to receive $4.5 million at the close of the
offering, which is expected by Nov. 21, and additional payments
in regular installments.

To contact the reporter on this story:
Ehren Goossens in New York at

To contact the editors responsible for this story:
Reed Landberg at
Will Wade

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us