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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Ascent Solar Technologies, Inc.    

ASCENT SOLAR TECHNOLOGIES, INC.
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ASCENT SOLAR TECHNOLOGIES, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant (form 8-K)

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07/12/2018 | 11:04pm CEST

Item 1.01 Entry into a Material Definitive Agreement.

Offering of Unsecured Non-Convertible Notes

On July 6, 2018, the Company issued a $135,000 promissory note to an accredited investor in exchange for gross proceeds of $120,000. This investor note (i) will mature July 6, 2019 and (ii) will bear interest at a rate of 12% per annum, from date of funding. Principal and interest on this note are payable at maturity. This note is secured by a security interest on substantially all of the Company's assets, pursuant to the Security Agreement dated November 30, 2017.

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

Item 2.03 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 3.02 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 pursuant to
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 9.01 Financial Statements and Exhibits.
(d) The following exhibits are filed with this report:


Exhibit
Number    Description

10.1        Note dated July 6, 2017
10.2        Security Agreement dated November 30, 2017 (Incorporated by reference
          to Exhibit 10.65 to our Annual Report on Form 10-K filed March 29,
          2018.)







--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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