Ascent Solar: Outstanding Notes Reduced
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THORNTON, Colorado - Ascent Solar Technologies, Inc. (NASDAQ: ASTI), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company's EnerPlex™ series of consumer products, announced that the Company has fully settled the final cash portion of its senior secured convertible notes ("Notes"), pursuant to the agreement announced on November 23, 2015. Following this settlement, the remaining principal balance of outstanding Notes has been reduced to approximately $52,000. The Company expects this remaining amount to be converted or retired in the near future.
"We are pleased to have settled this portion of the Notes as scheduled," commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. "Following this final cash settlement, the Company has effectively completed the debt restructuring exercise that was announced back in September 2015. This completion will allow Ascent Solar to move forward on more favorable terms with its new funding partner in 2016, and benefit from increased financial flexibility. We appreciate our shareholders' patience through this arduous process, and we look forward to providing product updates as we move closer to CES in January 2016."
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules using flexible plastic substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules, which were named one of TIME Magazine's 50 best inventions for 2011, can be directly integrated into consumer products and off-grid applications, commercial transportation, automotive solutions, space applications, consumer electronics for portable power and durable off-grid solutions. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.goenerplex.com and www.ascentsolar.com