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Ascent Solar prices offering of 3.8 million shares



16 May 2008 @ 07:25 am EST

LITTLETON, Colo. (AP) - Solar cell maker Ascent Solar Technologies Inc. said Friday its public offering of 3.8 million shares has priced at $14 per share, for total gross proceeds of $53.2 million.

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ASTI 8.91 -0.39

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The company plans to use proceeds to buy tools for the production of thin-film photovoltaic modules and for general corporate purposes.

JPMorgan Securities is serving as lead underwriter. Cowen & Co., Jefferies & Co. and Merriman Curhan Ford & Co. are also underwriting the offering.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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