CIGS specialist Ascent Solar sees shares plunge after offering

Ascent has been listed on the Nasdaq stock exchange since 2006

Shares of Ascent Solar Technologies sank by 29% yesterday after the Colorado-based flexible thin-film specialist offered up nearly 9.2 million new shares at a steep discount in a feverish bid to raise cash.

Ascent offered the shares – which ended trading at $1.68 on 19 September – for $1.20 each, with the offering expected to close on 25 September.

Ascent shares fell as low as $1.17 on 20 September before ending the day at $1.20.

Many industry observers will see the share offering as a desperate grab for cash by Ascent, which is among the many thin-film PV players once seen as immensely promising, but whose prospects have been severely challenged by the falling price of crystalline silicon (c-Si).

It has been a bumpy, if often exciting,…

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