ASCENT SOLAR TECHNOLOGIES, INC. (OTCMKTS:ASTI) Files An 8-K Entry into a Material Definitive Agreement

ASCENT SOLAR TECHNOLOGIES, INC. (OTCMKTS:ASTI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

Offering of Unsecured Convertible Note

On June 6, 2018, Ascent Solar Technologies, Inc., a Delaware corporation (the “Company”) sold and issued to BayBridge Capital Fund LP (“Investor”) a $315,000 aggregate principal amount unsecured original issue discount note (the “Note”) in exchange for $260,000 of gross proceeds.

Terms of the Note

The Note will mature on December 6, 2018. Principal and interest on the Note will be payable in a lump sum on December 6, 2018.

The Note will bear interest at a rate of 12% per annum.

The Note contains standard and customary events of default including but not limited to: (i) failure to make payments when due under the Note, and (ii) bankruptcy or insolvency of the Company.

The Note is not convertible.

The Note is not secured.

The foregoing description of the Note is a summary and is qualified in its entirety by reference to the document attached hereto as Exhibit 10.1, which document is incorporated herein by reference.

Item 1.01

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 1.01 Unregistered Sales of Equity Securities.

All of the securities described in this Current Report on Form 8-K were or will be offered and sold in reliance upon exemptions from registration to Section 4(a)(2) under the Securities Act of 1933, as amended (“Securities Act”), and Rule 506 of Regulation D promulgated thereunder. The offering was made to “accredited investors” (as defined by Rule 501 under the Securities Act).

Item 1.01 Submission of Matters to a Vote of Security Holders.

The Company held its Annual Meeting of Stockholders (“Annual Meeting”) on June 11, 2018. The matters voted upon at the Annual Meeting and the results of such voting are set forth below.

Proposal 1 – Election of one Class 1 director to serve until the 2021 annual meeting of stockholders and their successors have been elected and qualified.

Nominee

Votes For

Withheld

Broker Non-Votes

Dr. Amit Kumar

9,850,377,974

189,335,668

6,730,259,718

The director nominee was duly elected.

Proposal 2 – Ratification of appointment of Independent Registered Public Accounting Firm.

Votes For

Votes Against

Abstain

Broker Non-Votes

15,387,995,731

1,071,452,938

310,524,691

Proposal 2 was approved.

Proposal 3 – Non-binding advisory approval of the compensation of our executive officers.

Votes For

Votes Against

Abstain

Broker Non-Votes

9,400,790,809

516,409,541

122,513,292

6,730,259,718

Proposal 3 was approved.

Proposal 4 – Amendment to the Certificate of Incorporation to authorize a reverse stock split.

Votes For

Votes Against

Abstain

Broker Non-Votes

13,429,708,406

3,182,660,037

157,604,917

Proposal 4 was approved.

Proposal 5 – Adjournment.

Votes For

Votes Against

Abstain

Broker Non-Votes

13,301,891,835

3,247,814,145

220,267,380

Proposal 5 was approved.

Item 1.01 Financial Statements and Exhibits.


Ascent Solar Technologies, Inc. Exhibit
EX-10.1 2 bbcfpn-2018x06x06asti.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,…
To view the full exhibit click here

About ASCENT SOLAR TECHNOLOGIES, INC. (OTCMKTS:ASTI)

Ascent Solar Technologies, Inc. is engaged in commercializing flexible photovoltaic (PV) modules using its technology. The Company’s manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide (CIGS) semiconductor material, on a plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected PV cells or PV modules, in a process known as monolithic integration. The Company is producing consumer oriented products focusing on charging devices powered by its solar modules. It manufactures its products by affixing a thin CIGS layer to a flexible, plastic substrate using a roll-to-roll process. Its EnerPlex products are available on www.goenerplex.com and a range of third-party e-commerce sites, including www.amazon.com, www.bestbuy.com, www.walmart.com, www.newegg.com, www.frys.com, www.cabelas.com and several others.

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