Ascent Solar (ASTI) & Advanced Battery (ABAT) Sink On Stock Offerings

Ascent Solar (ASTI) (down 15% premarket) and Advanced Battery (ABAT) (down 67% premarket)  are raising some cash through stock offerings.  ASTI announced it intends to commence an underwritten public offering of 4 million shares of its common stock with net proceeds being used for expansion of production capacity and general corporate purposes.  The company also announced that its largest shareholder Norsk Hydro has committed to purchasing about $5 million of common stock in a private placement of shares which will occur at the time of the public offering

ABAT has announced it will sell stock and warrants to institutional investors in a direct $19 million offering which is expected to close around Oct 5th.  The investors have agreed to purchase 4,592,145 shares of common stock and 1,377,644 common stock purchase warrants.

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