Ascent Solar Agrees For New Investment From TFG Radiant At 43% Premium

(RTTNews) - Thin-film photovoltaic modules developer Ascent Solar Technologies, Inc. (ASTI) Thursday announced a stock purchase agreement with its largest stockholder TFG Radiant Investment Group for $1 million of common stock. The new investment will increase Radiant's ownership in Ascent to around 17 percent. The deal is priced at $1 per share, with 43 percent premium on closing price on June 9.

Ascent expects to issue 1,000,000 restricted shares to TFG Radiant, with a trading restriction for one year. The deal will be closed on or before July 17, 2015. Earlier in August end, 2014, TFG Radian and Series A investor, Seng Wei Seo have invested $8 million of common stock at a premium of 30 percent.