November 23, 2010

Faegre & Benson Advises Ascent Solar Technologies on $22 Million Public Offering

Faegre & Benson recently served as legal counsel to Ascent Solar Technologies, Inc. (NASDAQ:  ASTI) in its secondary public offering of 5.25 million shares of common stock at a price of $4.15 per share.

The Faegre & Benson team was led by Jim Carroll, a partner in the firm's corporate and securities practices in Boulder and Denver.

Ascent Solar received net proceeds, after offering expenses and underwriting discounts and commissions, of approximately $20.25 million. Ascent Solar expects to use the net proceeds from the offering for the completion of its FAB2 production plant and for general corporate purposes.

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that are  more flexible and lighter weight  than most traditional solar panels.

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