Ascent Solar Technologies Announces Reverse Stock Split

Core Viewpoint - Ascent Solar Technologies, Inc. will execute a 1-for-100 reverse stock split effective before market open on August 15, 2024, to meet Nasdaq listing standards and increase its stock price above $1.00 [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split was approved by stockholders at the 2024 Annual Stockholders Meeting on August 7, 2024, and will combine every hundred shares into one share [1][2] - The new CUSIP number for the common stock will be 043635804, and trading on a split-adjusted basis will commence on August 15, 2024 [2] - The total number of issued and outstanding shares is expected to decrease from approximately 102 million to about 1.02 million post-split [3] Group 2: Impact on Stock Options and Warrants - The reverse stock split will also apply to common stock issuable upon the exercise of outstanding warrants, stock options, and restricted stock units, with proportional adjustments to exercise prices [3] Group 3: Company Background - Ascent Solar Technologies is a leader in flexible thin-film photovoltaic solutions, with 40 years of R&D and 15 years of manufacturing experience [4] - The company's PV modules have been utilized in various applications, including space missions and commercial construction, showcasing their versatility and performance [4]