- Ascent solar (OTCPK:ASTI) is redeeming $21.2M worth of senior convertible notes from a note holder it raised $35M from last November. Ascent is returning $18.8M located in a restricted control account, and also making $6.3M worth of cash payments in October and December. (8-K filing)
- In July, Ascent struck a deal with the note holder to cancel outstanding warrants in exchange for the right to receive 8.3M shares. 6.8M of the shares still have to be distributed; Ascent suggests they'll begin to be distributed in late November.
- Separately, Ascent has struck a deal to sell $1.5M worth of secured convertible promissory notes to two investors. The notes mature in Sep. 2016, have a conversion price of just $0.12/share, and sport an 8% interest rate.