Following this settlement, the remaining principal balance of outstanding Notes has been reduced to approximately $52,000. The Company expects this remaining amount to be converted or retired in the near future.
"We are pleased to have settled this portion of the Notes as scheduled," commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. "Following this final cash settlement, the Company has effectively completed the debt restructuring exercise that was announced back in September 2015.
This completion will allow Ascent Solar to move forward on more favorable terms with its new funding partner in 2016, and benefit from increased financial flexibility. We appreciate our shareholders' patience through this arduous process, and we look forward to providing product updates as we move closer to CES in January 2016."
