Ascent Solar Will Offer 4 Million Shares

THORNTON, Colo. (AP) — Solar cell maker Ascent Solar Technologies Inc. said Thursday it will publicly offer 4 million shares.

Underwriters will have a 30-day option to buy an addition 600,000 shares.

Net proceeds are expected to be used to expand Ascent Solar's rated production capacity and for general corporate purposes.

Separately, Norsk Hydro Producksjon AS, its largest shareholder, will buy $5 million in shares as part of a private offering, as long as the public offering goes through, at a price per share equal to the public offering price.

Ascent shares fell $1.05, or 14 percent, to $6.49 in trading at the opening bell.