Ascent Solar Technologies, Inc. announced that it has entered into a securities purchase agreement for a private placement of 4,500 series 1A convertible preferred stock at a price of $1,000 per preferred stock for gross proceeds of up to $4,500,000 on September 22, 2020. The transaction will include participation from Crowdex Investments, LLC. The preferred stock will be convertible at the option of the holder into common stock at a fixed conversion price equal to $0.0001. There is no redemption for the series 1A preferred stock. The company will issue securities pursuant to exemption provided under Regulation D.

On the same date, the company issued 2,000 preferred stock for gross proceeds of $2,000,000 in its first tranche. The company will issue 2,500 shares shares for gross proceeds of $2,500,000 in its second tranche on November 20, 2020.