Why Ascent Solar Technologies (ASTI) Stock Is Down 60%

Ascent Solar Technologies, Inc. ASTI shares are trading lower by 61% to $2.14 Thursday morning after the company announced pricing of a public offering of units.

What Else?

Ascent Solar Technologies launched a "best efforts" public offering of 3,572,635 units at $2.88 per unit. Each unit consists of either one share of common stock or a prefunded warrant to purchase a share of common stock, along with a common warrant to purchase a share of common stock.

The prefunded warrants can be exercised immediately at a very low price and have no expiration until fully exercised, while the common warrants can be exercised immediately at $2.88 per share and will expire five years from the date of issuance.

According to data from Benzinga Pro, ASTI has a 52-week high of $1,494.00 and a 52-week low of $2.00.