Ascent Solar Technologies, Inc. (NASDAQ:ASTI)
ASTI reported the signing of an agreement to raise $10 million through a registered direct offering with institutional investor Ironridge Technology Co., a division of Ironridge Global IV LTD. In the transaction, the Company will issue up to $10 million of Series B convertible preferred stock in two tranches.
The initial $5 million tranche is expected to close this week, upon satisfaction of customary closing conditions. The initial tranche preferred stock will be convertible into shares of common stock at a fixed conversion price of $1.15 per common share.
The second tranche of $5 million is expected to close in late 2013 or the early part of 2014. The second tranche preferred stock will be convertible into shares of common stock at a fixed conversion price of either $1.15 or $1.50 per common share.
ASTI intends to use the proceeds of the offering to fund the continued operations and expansion of its retail channels for its EnerPlex products in the US, Europe and Asia, brand building, as well as the launch of additional EnerPlex products.
According to the company and based upon preliminary data, ASTI expects to post third quarter revenue of $275,000, an increase of approximately 22% over second quarter.
ASTI is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. ASTI 's modules can be directly integrated into standard building materials, aerospace applications, consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment.
More about Ascent Solar Technologies, Inc. (NASDAQ:ASTI) at www.ascentsolar.com
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Crown Equity Holdings Inc. (CRWE)
Electronic commerce, commonly known as ecommerce or e-Commerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks.
E-Commerce has become an important tool for small and large businesses worldwide, not only to sell to customers, but also to engage them.
In 2012, e-commerce sales topped $1 trillion for the first time in history
CRWE has updated its membership driven online e-commerce venture business plan. The name of the business will be known as “iB2BGlobal”.
CRWE has been in contact with several high level IT companies in India to help support the project in the United States.
CRWE offers advertising branding and marketing services as a worldwide online multi-media publisher.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
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Mechel OAO (NYSE:MTL)
MTL reported the sale of a 28% share in Vanino Sea Trade Port OAO's equity capital.
Mechel Group, as represented by Mecheltrans OOO, sold some 28% of the port's equity capital to an outside investor, retaining a minor share package for itself. The transaction amounted to 5.04 billion rubles (approximately 158.43 million US dollars, based upon the Russian Central Bank exchange rate of 31,8119 RUB/USD as of October 29, 2013).
Access to Port Vanino's transhipment capacities significantly enhances MTL 's export potential in Asia and the Pacific and ensures guaranteed sales volumes for the Group's coal products, taking into account the Elga deposit development.
MTL is an international mining and steel company which employs over 80,000 people. MTL 's products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power.
More about Mechel OAO (NYSE:MTL) at www.mechel.ru
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