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Ascent Solar (ASTI) Will Transfer Listing to Nasdaq Capital Market

March 27, 2014 10:28 AM EDT
On March 26, 2014, Ascent Solar Technologies, Inc. (Nasdaq: ASTI) received approval from the NASDAQ Stock Market ("NASDAQ") to transfer its stock listing from The NASDAQ Global Market to The NASDAQ Capital Market, effective with the opening of the market on March 28, 2014. The Company’s common stock will continue to trade under the symbol “ASTI”. The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as The NASDAQ Global Market. As previously disclosed on March 19, 2014, the Company was not in compliance with the NASDAQ's $1.00 minimum bid price requirement. The Company's securities were subject to delisting from The NASDAQ Global Market tier unless the Company timely requested a hearing before the NASDAQ Listing Qualifications Panel (the "Panel") or successfully transferred its listing to The NASDAQ Capital Market tier. The Company applied to transfer the listing of its common stock from the NASDAQ Global Market to The NASDAQ Capital Market. In connection with the transfer of the listing of the Company’s common stock to the NASDAQ Capital Market, the Company is granted an additional 180 days, or until September 15, 2014 (the "Compliance Date"), to regain compliance with the minimum bid price requirement. The Company intends to continue to monitor the bid price for its common stock. If the Company’s common stock does not trade at a level that is likely to regain compliance with the NASDAQ requirements, the Company’s Board of Directors may consider other options that may be available to achieve compliance. If at any time before the Compliance Date, the closing bid price of the Company’s common stock is at least $1.00 per share for at least ten consecutive business days, the Company will regain compliance with the price requirement. If the Company cannot demonstrate compliance by the Compliance Date or it does not comply with the terms of the extension granted by NASDAQ, the Company’s common stock may then be subject to delisting.


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