Ascent Solar Announces Reverse Stock Split

Ascent Solar Technologies, Inc. announced that its board of directors has approved a one-for-ten reverse stock split of the Company’s common stock to become effective at 5 p.m., Eastern Time, Tuesday, Aug. 26, 2014. The company will file an amendment to its Certificate of Incorporation on that date as authorized by the stockholders at the company’s annual meeting held on May 22, 2014. The company’s common stock is expected to commence trading on a post-reverse stock split basis on Wednesday, Aug. 27, 2014.

Ascent’s common stock will continue to trade on the NASDAQ Capital Market under the symbol “ASTI”. A new CUSIP number will be issued to Ascent’s common stock after the reverse stock split becomes effective. The reverse stock split is intended to increase the per share trading price of the company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.

As a result of the reverse stock split, every 10 shares of the company’s common stock issued and outstanding at the effective time will automatically be combined into one issued and outstanding share without any change in the par value of those shares. In lieu of issuing fractional shares, the company will round fractions of shares up to the nearest whole share.

The company expects to have approximately 11.7 million post-split shares outstanding as a result of the reverse stock split. The number of authorized shares of the Company’s common stock will remain at 250,000,000 shares.

The number of shares of the company’s Series A and Series C Convertible Preferred Stock outstanding will not be affected by the reverse stock split. However, the number of shares of common stock into which each outstanding share of Series A and Series C Convertible Preferred Stock is convertible will be adjusted proportionately as a result of the reverse stock split. All outstanding RSUs, stock options and warrants to purchase shares of the company’s common stock will be adjusted proportionately.