Ascent Solar Technologies Inc. (ASTI:US), a U.S. maker of thin-film solar panels, fell the most on record after announcing plans to raise about $11 million in a secondary offering of stock.
Ascent fell (ASTI:US) 29 percent to $1.20 at the close in New York, the most since its initial public offering in 2006.
Ascent will offer 9.17 million shares at $1.20 each, according to a statement released after the close of regular trading yesterday. The transaction is expected to close on Sept. 25 and the Thornton, Colorado-based company will use the proceeds for general corporate purposes.
Aegis Capital Corp. is managing the offering.
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